Gold Falls on Dollar Strength
2008 October 23
Spot gold fell more than 3 percent to a low of $743.45 an ounce, before recovering to trade at $752.45/754.95. The dollar has strengthened to a two-year high against a basket of currencies, as the dire outlook for the global economy prompted investors to liquidate riskier assets in favor of the dollar. gold prospecting
Related Posts:
6 Responses
leave one →
Gold is wonderful because it keeps the fiat money men attentive to what they do. But it is useless since the fiat money men can not make gold (yet), they must be mindful of gold as store of value. Today we know the “we can print our way out of this” crowd is calling for more paper. But the world knows that paper is no store of value, to the contrary, it is the illusion of value.
San Diego events
Anyone want to unload some gold and silver, I’ve got this really awesome greenish paper! The world loves it! It’s, it’s, its . . . almighty! Hail the $! HA! I’ve known the $ was toast for 2 years now, there was a spark of hope B4 that. All common sense is out the window.
Current gold price
True value is the time that it takes man to produce an item. It doesn’t matter if it is building a bridge or a wall or mining an ounce of Gold. You will not produce an item at a loss!
It is expensive to sink a mine shaft, it is expensive to dig out gold, it is expensive to crush the ore, it is expensive to extract the Gold, it is expensive to treat the waist and rehabilitate the ground. Many man hours involved. This cost my friends is the inherent value in Gold, the break even cost of the mine. If this cost is not recovered the mine is closed. Less mines results in less gold whereby, supply and demand keeps the price above this cost level. That is the value of physical gold my friends.
San Bernardino attorneys
Paper gold and fiat currencies without substance are pie in the sky, esoterically ideas and dreams. They can carry on producing them until the value is zero! Not gold my friends, man hours ensure inherent value!
Acne medicine
I believe that with trillions of dollars of FIAT currency in the game. The money changers will play any game and tell any lie to prop up their system. Figures don’t lie, but liars figure.
San Diego plastic surgery
Gold has two values: the actual use value in industry, and speculative value. As the former is less than 1/10th of the latter, it’s a pretty poor investment, relying on the greater fool theory.
San Diego implant dentist