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Strategies & Market Trends : India Coffee House

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To: SouthFloridaGuy who wrote (7362)	9/29/1999 5:21:00 PM
From: sea_biscuit	Read Replies (1) of 12475

Since it looks like the last few days has seen quite a few gold bugs walk out of the woodwork, the following article titled "The Case Against Gold" might be of relevance : news.morningstar.com Excerpt : Two thousand years ago, a Roman senator could buy a really spiffy, top-of-the-line toga for about the equivalent of one ounce of gold. The Armani family would hand-tailor his garment from the finest imported fabrics and most stylish dyes--a real power suit, guaranteed to turn heads while sending a strong message of restrained power and worldly sophistication. During the Civil War, a fashionable man's suit cost about the same as an ounce of gold. Today, with an ounce of gold hovering at about the $300 level, careful shopping will buy you a fair off-the-rack suit at a chain department store, but the Armanis won't let you in the store for just the price of an ounce of gold. Using this highly anecdotal "evidence" I conclude that even long-term investors have not experienced significant appreciation from holding gold. Yet there is a small but committed cadre of "gold bugs" that hold the metal in almost mystical reverence as the ultimate store of value...

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