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2008-03-05 Home Front Economy

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Posted by tipper 2008-03-05 14:37|| || Front Page|| [4 views ] Top

#1 I've a friend who follows gold closely, and he says it is good odds it will be over $1500 by next November.

Besides the typical market forces, both Russia and Dubai are buying up as much as they can.

Posted by Anonymoose 2008-03-05 15:41|| 2008-03-05 15:41|| Front Page Top

#2 The gold market defies basic economics.

Gold is mined at around $300/oz. The only thing limiting ever increasing production is shortages of people who know how to develop and run gold mines.

Something like 90% of all the gold that has ever been mined is still in use or in bank vaults.

Posted by phil_b 2008-03-05 19:39|| 2008-03-05 19:39|| Front Page Top

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