Why we're so in love with gold
The recipient of a gold bracelet might treasure it forever. As an investment, it might even be worth more someday. But buy gold for love, not gain.
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You can go to any country in the world and purchase any item you want with gold/silver. What other monetary instrument can you do that with today? US Dollar? Nope! AMEX/MC/VISA :? Not everywhere. Gold has never been worthless and never will be, it is the wealth saving method prefered by the majority of people in the world today.
Meh..Never thought gold was a spectacular metal.. So many cheap alternatives that come close to imitate
this overated metal. Same applies to diamonds glass if cut correctly can look just like diamond.
Oh yeah. That's why gold 10 years ago was <$400, and an ounce could buy you a tailored suit, and today, it's roughly $1600, erm, the price of a tailored suit. I'd forgive stupidity before ignorance, this article seems to be a combination of both.
5-6 years ago, is said that it cost 750 dollars an ounce to mine gold. There is also an old saying if you double a price of a metal, its reserve quantity can increase a tenfold. This might not hold true for gold but take a look at the logic and pay heed to it.
You don't "invest" in gold thinking you will one day become rich. You purchase gold to prevent losing the overall value of what ever it was that you used to purchase it. It can go up or down from there. Even if it goes up, you may not be able to repurchase with it the same amount of what it was you used to purchase it in the first place.
It only has the value of what someone else is willing to give for it. Same as any commodity.
What is even scarcer now than gold and other precious metals, especially with this President in office, is Lead and Brass. Even Steel and Poly has gone up double in the past 4 months. That is where the real money can be made when the reason for buying gold by those frightened of the economy comes to fruitation.
The Anunnaki ingrained it into our brains to look for gold when they changed our genetic makeup 40,000 years ago. Why else do people salivate at the sight of it?
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- Gold and silver futures were just modestly lower in overnight/early morning trade, but dropped sharply following the jobs report.
- Apr gold is now -1.4% at $1333.30/oz and May silver is -3.2% at $20.88/oz
- Copper futures, on the other hand, have been sliding lower since the overnight session and just hit a new session low of $3.11/lb.
- Since China is the largest importer of copper in the world, news that China saw its "first" corporate bond default, ... More
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