What's Different About $1500 Gold?
Commodities / Gold and Silver 2011 Apr 22, 2011 - 02:50 AM GMTBy: Adrian_Ash
The golden constant stands out amidst the US Dollar's latest plunge...
So what's different about gold at $1500 per ounce...?
Nothing. Absolutely nothing. There's no more or less of it in the world today than there was a day or a week ago, and very little more than a month ago. There's barely 15% more today, in fact, than there was a decade ago at $270.
Gold still has very few industrial uses - only 11% of 2010 global demand - and the stuff remains indestructible. It never changes or does anything. Hell, it won't even rust.
But what is changing is everything else - the volume and quality of debt, in particular, and the volume of US Dollars most especially. That's what make the golden constant stand out against the noise of the Dollar's latest plunge.
By Adrian Ash
BullionVault.com
Gold price chart, no delay | Buy gold online at live prices
Formerly City correspondent for The Daily Reckoning in London and a regular contributor to MoneyWeek magazine, Adrian Ash is the editor of Gold News and head of research at www.BullionVault.com , giving you direct access to investment gold, vaulted in Zurich , on $3 spreads and 0.8% dealing fees.
(c) BullionVault 2011
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