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Gold May Rise to $5,000 on Inflation
Amish
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Gold May Rise to $5,000 on Inflation, Schroder Says (Update1)
By Bei Hu
June 19 (Bloomberg) -- Gold prices may rise to $5,000 an ounce as investors seek to protect themselves against accelerating inflation, said Schroder Investment Management Ltd., which oversees $277 billion of assets globally.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aF1439PVhAgk&refer=commodities
By Bei Hu
June 19 (Bloomberg) -- Gold prices may rise to $5,000 an ounce as investors seek to protect themselves against accelerating inflation, said Schroder Investment Management Ltd., which oversees $277 billion of assets globally.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aF1439PVhAgk&refer=commodities
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In spite of this about 20% of the gold mined each year is not used but is put back into the ground in vaults. For any other commodity, (e.g. copper, tin, etc) this would be a catastrophe and the price would plummet. But because it's gold, people think it has some inherent worth.
As a commodity, gold is worth about $300/ oz or so, anything more than that is caused by human psychology.
if gold goes up, everything else will, making it all relative. bible says gold will buy a loaf of bread some day.
"...and turn this stone into a loaf..."
...it may still have some un-discovered properties though[}:)]