Gold's Meteoric Rise
Written By: Dr. Mark W. Hendrickson | Posted: Tuesday, August 30th, 2011
The price of gold has gone on a tear this summer, from slightly under $1500 per ounce to well over $1800 per ounce, and it looks like it wants to go higher. What gives?
Well, if you bought gold last spring, you're looking pretty smart. And if you bought gold a decade ago at $300 per ounce, you're looking like a whiz. Imagine buying a stock 10 years ago, having it appreciate fairly steadily over the decade, and then watching its price increase in less than two months by more than your original purchase price. For a commodity to increase at such a rate is truly extraordinary, even portentous.
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