Wednesday, March 21, 2012

Why Gold?

It has been quiet on the markets of late. Just the usual stuff boiling in the background. Perhaps something is ready to pop at any moment.

The buildup to some form of confrontation in the Middle East continues. The appearance of Russian troops in Syria sends a 'hands' off' message to the West, while the Israeli Cabinet has voted positively for some form of military action against Iran.

But today I want to point you to this article below. Since my 'gold and silver' journey began around six years ago, there have been many questions about 'why gold and silver'.

One of the biggest misnomers is that gold doesn't provide an income in that you cannot earn interest from it. Well, this article from the Goldmoney Foundation answers this question and many more. Here is the introduction to the essay:

"There is frequent debate about the valuation of any asset or asset class. Sometimes the debate is fierce, and few investment topics evoke as much passion and controversy as gold — especially among professional investors. Many believe that gold is useless as a commodity and are sceptical of its alleged monetary value. For those that have legitimate doubts about the value of gold, this paper is an attempt to address some of those doubts."

Read the full essay here

Gold in New Zealand dollars: $2018.60 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $39.29 per oz
Previous all-time high: $59.19
per oz (30 Apr, 2011)

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