NEW YORK — For years, investors known as gold bugs snapped up the metal and socked it away, betting that a colossal economic crisis would one day slam financial markets and send gold prices through the roof. For many investors, that grim scenario is in full swing, except for one thing: After briefly hitting $1,000 an ounce for the first time in March, gold has fallen into a rut and shows no sign of budging any time soon. "It's been a puzzle for most of us," said Geoff Farnham of Venice, Calif., who inherited some gold holdings and recently began buying gold coins as "insurance." Since soaring to an all-time high of $1,033.39 an ounce on March 17, gold has plummeted 30 percent. Gold for December delivery on Monday rose $8.60 to settle at $726.80 — roughly the same level where it traded a year ago. With economists now warning that a world economic slowdown could bring about deflation, a sustained period of falling prices, gold analysts say it's unclear how the metal will respond.

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