Price of Gold

Generali

I heard recently that in 1980, gold was 850/troy oz, Dow was 800.

Now Dow is at 10,000 and gold is at $1,000.

Does that mean anything? Not especially IMO. However it is fair to say that gold has proven to be an excellent store of value in the very long term, there's the story about a set of clothes for a court appearance being worth about an oz of gold in Roman times and today too,.

The same is probably true of land however and you could have earned a nice rent off the land over the past 2000 years, if you'd managed to keep it through wars, revolutions etc.

bo_drinker

http://www.mirror.co.uk/news/top-stories/2010/01/21/fools-gold-115875-21983674/

Generali

bo_drinker wrote: »

http://www.mirror.co.uk/news/top-stories/2010/01/21/fools-gold-115875-21983674/

I've heard these people interviewed and they say the same thing. They're scrap merchants, not interested in workmanship.

Sending a nice bracelet to these people is like taking your 6 month old Jag to the breakers yard and expecting to get a decent price. You're in the wrong place!

novazombie

Generali wrote: »

I heard recently that in 1980, gold was 850/troy oz, Dow was 800.

Now Dow is at 10,000 and gold is at $1,000.

Does that mean anything? Not especially IMO. However it is fair to say that gold has proven to be an excellent store of value in the very long term, there's the story about a set of clothes for a court appearance being worth about an oz of gold in Roman times and today too,.

The same is probably true of land however and you could have earned a nice rent off the land over the past 2000 years, if you'd managed to keep it through wars, revolutions etc.

We still have a long way to go up, for gold to be worth a hand made suit.

Look at this gen;

http://www.youtube.com/watch?v=d7RVHl8pwk8

Cleaver

PasturesNew wrote: »

So, is it better to be trapped in a house you can't sell .... or trapped homeless but with a nice safety deposit box.

Gold could take more than a lifetime to recover if you get it wrong.

I know I won't be buying any.

I think the key is not to have all of your money trapped in any one asset. A bit here, a bit there, nudge nudge, wink wink, say no more...

bo_drinker

Cleaver wrote: »

I think the key is not to have all of your money trapped in any one asset. A bit here, a bit there, nudge nudge, wink wink, say no more...

http://www.youtube.com/watch?v=dlDXVI6uM78 :j

Generali

novazombie wrote: »

We still have a long way to go up, for gold to be worth a hand made suit.

Look at this gen;

http://www.youtube.com/watch?v=d7RVHl8pwk8

He makes a good point but he is clearly talking up his own book at the same time.

I love the tie though!

Mr_Matey

Generali wrote: »

I love the tie though!

Me too. I think it's made from an ounce of gold, which may explain why his suits cost so much to make.

phil_b_2

hmmmm, billions pumped into the economy and record inflation announced, yet gold does nothing? Maybe people are losing the faith.

Mr.Brown_4

I sent a couple of gold teeth off to one of these cash back places to be valued last week. Not heard anything yet, but I am sure it wont be long. Only downside is the all soup diet.