huskerbob

Is Gold As a Safe Haven Just a Myth?

JasonC, where to begin? No fortunes of amassed gold? Maybe that's true on Bizarro world, but here on Earth fortunes have been accumulated in gold for thousands of years! Gold is universally recognized as wealth! How many phrases use the word gold to indicate value? How long did the phrase "the almighty dollar" last? Before it was used sarcastically, I mean.
How many oz. of gold does it take to buy the Dow today? One hundred years ago? How about a barrel of oil? How about a ham sandwich? Now compare the cost in gold to any fiat currency.
The Romans proved that PM's are a good store of value. They inflated their currency by diluting the PM content. The PM didn't become less valuable, they simply used less and less over time.
Actual physical gold and silver are experiencing huge demand. It is impossible to buy silver anywhere near the spot price. People are already taking advantage of the difference between the futures and the physical markets by taking delivery of contracts. Let's see how long it will take Comex to end the practice, proving once and for all that the futures price is divorced from reality.