Re: Gold Soaring
- From: me@xxxxxxxxxxxxxxxxxxx (Christian Feldhaus)
- Date: Sat, 3 Nov 2007 14:58:23 +0100
Bruce Remick <remick@xxxxxxx> wrote:
"Kyle Mutcher" <kmutcher@xxxxxxx> wrote in message
news:2TTWi.970$Gy4.775@xxxxxxxxxxxxxxx
The price of gold isn't rising, the value of the US $ is depreciating.
Maybe in theory, but the price of my favorite six pack and the baby back
ribs at my favorite restaurant hasn't changed over the past year or two.
Which is what I tell my American friends when they say how "expensive"
things have become around here. :-)
As far as the gold price is concerned, well, of course the price in USD
has gone up faster than the price in, say, GBP or EUR lately. And that
is indeed due to the decreasing "external" value of the dollar. On the
other hand, the gold price here has increased too, obviously because of
increased demand worldwide.
So from my "Eurolandish" point of view, the price _is_ rising, but at a
slower speed than from an American POV. Three years ago, an ounce was
about €350, now it is about €550. And there may well be countries where
it has changed less in terms of "local" currency.
Christian
.
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