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For the citizens of nearly every country of the world except Japan, China, the US and Saudi Arabia, gold has been an outstanding investment in 2008! Look at it. Gold in dollars is even with the beginning of the year. But nearly all currencies are way off compared to the dollar, hence gold has had a nice run in terms of all of those currencies. And the stock markets in every country has tanked, many worse than the US as our BRIC investors have turned tail and run.
Dec 24 17:17 pm
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All Comments by secmaven »Gold Prices: Little Correlation with Its Utility [View article]
Say you live in a country where gold was a winner. Do you sell your gold and buy US Treasuries that yield 2% on the ten year note? Where will the US dollar be in 10 years??? OUT OF BUSINESS. Will gold be out of business? It has been around for 6,000 years and it ain't going anywhere at this point but higher in terms of fiat money. That is my view.