Gold just passed $1275 USA per ounce, This is good news for yours truly who has about 25% of the family fortune in gold (precious metal) funds. This fund is up 193% over what I paid for it a couple of years ago. Very good news indeed! We won't talk about the other 75% right now. It is treading water, not going up much but more importantly, not going down.
The reason "they" say is the recent discovery that Americans are still reluctant to (over) buy consumer products with credit cards. Americans are becoming more like Mexicans and sticking to cash. Smart! For some reason I don't understand, this is driving gold higher.
I will have a good time updating my Quicken tomorrow to reflect my profits! Life is good!
I do have to admit however that this whole "capitalism" thing is pretty new to me! I do want to make good decisions with this investment but between the two of us we have six pensions so we will not be starving or even having to give up travel anytime soon. My disposable income is much higher than what it was when I was working for a living. Like I say, Life Is Good!
Here is what Gold has done over the past 20 years: