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AGgressive Metal
Administrator
USA
1937 Posts |
 Posted - 07/02/2010 : 06:19:07
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I see people fretting the recent "drop" in the price of gold. I just to remind everyone that gold at $1211 means gold is up $281.50 on the year. $281.50 in one year. You used to be able to buy an ounce for that, and now it is up that much in a year. Next time someone tells you the price has dropped, you at them like they're crazy and say "Really? I thought it was up 30% this year?"
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And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Oldpagan
Penny Sorter Member
USA
62 Posts |
Posted - 07/02/2010 : 14:56:38
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| Really, the price of gold and silver have remained the same. It's the value of the dollar that raises and lowers, thus it takes more or less to buy that troy ounce of freedom. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 07/02/2010 : 21:56:23
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| No doubt that gold has done extremely well over the past 12 months. But for those who bought in at $1251 it still has dropped $40 from where they bought into it at. It is all relative..... The question remains is there really a better place to put one's FRNs into now? |
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The big picture
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