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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (14231)10/28/2004 7:18:19 PM
From: TH  Read Replies (1) of 116555
 
Yiwu,

This is not exact, but here is another way to think about the relative value of gold.

In 1959 $1000 dollars would have bought you about 28 ounces of gold or 28 well made men's suits.

That $1000 of gold purchased in 1959 at todays 2004 value would buy you about 28 well made men's suits (suits at 425 each).

In 45 years a suit may cost $5000, and I expect that an ounce of gold would be in the same range.

I do not think of gold as an investment. Gold is a store of wealth. Gold prevents those who print money from stealing from you. Those who print money hate gold, but they respect and fear it.

Good Trading

TH
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