The gold price
What's Special About $1500 Gold? - 26 April 2011
The US Dollar's latest plunge highlights the golden constant...
SO THE Gold Price has passed the $1500 mark, writes Adrian Ash at BullionVault.
Is this significant?
Well...no. Not really. In fact, there is nothing at all special about a $1500 Gold Price. Absolutely nothing.
There's no more or less of the stuff in the world today than there was a day or a week ago, and very little more than a month ago. There's barely 15% more today, in fact, than there was a decade ago at $270.
Gold still has very few industrial uses – only 11% of 2010 global demand – and the stuff remains indestructible. It never changes or does anything. Hell, it won't even rust.
But what is changing is everything else – the volume and quality of debt, in particular, and the volume of US Dollars most especially. That's what makes the golden constant stand out against the noise of the Dollar's latest plunge.
Want to anchor your wealth to the golden constant? You can buy physical Gold Bullion quickly and easily with BullionVault...
Adrian Ash runs the research desk at BullionVault, the physical gold and silver market for private investors online. Formerly head of editorial at London's top publisher of private-investment advice, he was City correspondent for The Daily Reckoning from 2003 to 2008, and is now a regular contributor to many leading analysis sites including Forbes and a regular guest on BBC national and international radio and television news. Adrian's views on the gold market have been sought by the Financial Times and Economist magazine in London; CNBC, Bloomberg and TheStreet.com in New York; Germany's Der Stern and FT Deutschland; Italy's Il Sole 24 Ore, and many other respected finance publications.
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