Since gold is real, stable money, pricing the Dow in the yellow metal reveals that the appreciation of the stock market over the last century was predominantly driven by inflation.
Ira Epstein covers the current state of the metal markets, highlighting significant movements in gold, which is approaching the $4,000 mark, and silver, which has surpassed $47.
The relentless erosion of U.S. dollar purchasing power, combined with the debt crisis and volatility in traditional assets, makes gold an indispensable safe haven for investors.
A slowing global economy also adds to gold’s attractiveness as a safe haven. And it may be the safe haven of last resort because Bitcoin took a hit this past week.
Too, with the FinMedia having of late actually giving notice to Gold, precious metals reports these days are richly ripe with hype. Moreover, recall what happened the last time Gold graphically caught up to its Dollar debasement value...
