On the side of this Blog page is a cute little applet that shows and tracks the price of gold. I don't own any gold, mostly because while it is a great hedge against hyper-inflation, I do not do much in the way of $1000 transactions. Oh, a house, and a camera, and an occasional car, but other than that? For hyper-inflation, I stick to Silver, heavier per value, but its nice twenty dollar per troy ounce¹ increments far more liquid.
BUT, Gold is an excellent barometer of the health of wealth. And in the last 40 hours, I have noticed something. Gold has increased against the dollar by 20% - It went from $775 per troy ounce spot price to $925.10 per ounce. This is an increase of almost exactly 20%. Somebody somewhere with lots of Money² thinks the world just went to hell in a handcart
¹ Not spot - what you or I would actually pay to hold it in our hot little hands.
²First mis-type was Monet. Probably have lots of those too.
1 comment:
About a week later, things are back to normal - $772. I guess someone got REALLY scared during the Mumbai attacks.
Post a Comment