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  • What does this mean?

    Hi Guys

    Two big things happened this week in the international market place.
    Read on:

    First, the industrial metals are dropping - sharply. Copper - often called Dr. Copper - took its biggest tumble in 14 years yesterday. Copper is called "Dr." because it is the metal with a Ph.D. in economics. Why? Because modern industrial economies use copper in everything - motors, wiring, telephones and computers...everything. So when demand for copper suddenly drops, it generally means the world economy is slowing down. Manufacturers aren't ordering as much copper; they must not expect to make so many things. Which must mean they have too much in inventory already...or consumers aren't borrowing so much.

    While the industrial metals went down, gold rose to $419.
    Gold is not used in industry. It is used in jewelry and as money. It is what people buy when they're not too sure the world's paper money will hold up. It is what people store when they're not sure their bonds, stocks and real estate will maintain their value. It is what people buy when they worry that today's "just in time" economy may suddenly become an economy in which they'd like to have some real wealth stockpiled...just in case.
    Source: The Daily Reckoning <[email protected]>

    Regards
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  • #2
    Excuse my ignorance but what is the highest price that gold has fetched in recent years Muppet?

    Cheers Jab
    Cheers,

    The Jaberwoky.

    The only silly question is the one you didn't ask.

    Comment


    • #3
      Hi JW

      Have a look at http://www.kitco.com

      This site has line graphs showing gold and silver prices going back for years, 10yrs anyway.

      Actually the latest rally started in April 2001 when gold was about US$260/oz.
      It reached a high of US$425 in Dec 2003.
      Gold has in the last 10mths bounced around quite abit between $425 and $355 but has put on a bit of a spurt over the last month or so and closed at about $420 on Friday.

      I have not bought any gold but I have bought some silver.(More bangs for your bucks)

      Regards
      "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

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      • #4
        Hi JW

        For more information about silver have a look at http://www.goldismoney.com/ssr/SS53.html

        Regards
        "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

        Comment

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