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Spot gold hits yet another all-time high of $1,715.29/oz and reaches parity with platinum for...

Spot gold hits yet another all-time high of $1,715.29/oz and reaches parity with platinum for the first time since the end of 2008. "Gold's status as a near-monetary asset is giving it considerable strength while platinum's greater exposure to economic growth is...a weaker driver," say Mitsui analyst David Jollie.
Comments (1)
  • Davis Waldo
    , contributor
    Comments (59) | Send Message
     
    On face value, this is all true. However, it begs the question of what is money.
    Is it concentrated, convenient, and recognizable enough for me to put it in my pocket, move 1000 or 5000 miles, and have the same market value? This is true for both gold and platinum.
    Can I put it in a drawer or vault, remove it in 5,10, or 20 years and will it have transmitted value through time? This is true for both gold and platinum.
    So, to me, they are both money.
    8 Aug 2011, 03:39 PM Reply Like
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