In truth, gold has been a poor investment for a long time...
Other safe havens have done much better... Government bonds... Swiss franc...
Gold rises and falls with oil, copper and wheat, and all the other things that get turned into stuff in factories. It is still a useful metal. But it is not money — and after its failure to rally in this crisis, even the most dogmatic gold bug may well have to admit that.
(Matthew Lynn in The Spectator)
The picture...
"1 GoldGram - GBP 16.51"
ReplyDeletePlease, have a soul.
30 Dec1988 1 Troy Oz £227.550
31 Dec1998 1 Troy Oz £173.42
05 Dec2008 1 Troy Oz £526.217
No rally, so that guy won't mind selling me gold at say 31 Dec '98 prices?
You're objecting to the grams? I prefer Imperial, too, but was too idle to construct my own graph.
ReplyDeleteThe dollar price will look a lot tastier when the dollar collapses.
I think grams is the way to go, especially when gold is priced in Troy ounces.
ReplyDelete