As elected leaders in Washington work to serve the nation by stabilizing the economy and defending the integrity of the country's credit rating, NPR reports several of them own gold.
Typically used as a method of preserving wealth in light of shaky economic times, gold attracts about twice as many Republicans as Democrats, according to the 2009 and 2010 personal financial disclosure reports the news outlet reviewed. The leaders are not required to cite their exact finances and investments typically did not encompass large amounts of their worth. The investments primarily were gold, gold derivatives and stakes in mining companies.
Capitol Hill's largest investor is Sen. John Kerry, Massachusetts Democrat. He and his wife own as much as $1.5 million in gold.
U.S. Rep. Ron Paul, Texas Republican, holds shares in 22 mining companies. A longtime advocate of resuming the gold standard, Paul is the precious metal's lead advocate on the Hill and his investments are worth as much as $2.4 million.
U.S. Reps. Steve Cohen, Tennessee Democrat, and Randy Neugebauer, a Texas Republican, hold about as much as $50,000 and $100,000, respectively.
With a record price of $1,624.30 per troy ounce, the precious metal is poised to drop in value Tuesday while retaining prices of at least $1,600 per troy ounce, according to Reuters.
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