Mainstream Media Continues to Ignore Gold's Record Run

Investors in the oldest currency of the world have every reason to celebrate. Gold traded up to a new record of $881 per ounce yesterday, erasing the previous all-time high of $875 almost exactly 28 years later. No matter what fiat currency is measured against it, gold has never been stronger all around the world.

You would not know from the Wall Street Journal online. Their only reference to the strong showing of gold prices counts a meager 13 words, hidden in the 15th paragraph of Peter A. Mckay's report (sub. req.):

Gold futures hit a new record high, up $20.8 to $882.80 an ounce.

The reason for gold's stellar performance can be found in the rest of the article. Stocks, especially financials, are plunging and no day passes without a couple of former top bankers leaving their keycards with their PA.

Why is it that mainstream media continues to ignore the strongest bull-run of this millennium, when gold has outpaced most other investments except energy and silver?

This may sound tough to those not holding gold but it will not be possible to escape the coming wave of asset deflation with paper assets. The exit gold offers will become costlier with each passing day. It cannot be created at free will and is the only asset that does not depend upon the reliable fulfillment of an obligation by a counterparty.

Comments

[Misty]

Great article but I would not be concerned about the sparsity of publicity as it is a bullish sign for gold. I plan to sell all my gold holdings when Time Magazine has a gold bar on its cover !