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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Louis V. Lambrecht who wrote (38978)11/6/2007 5:12:54 PM
From: Valuepro  Read Replies (1) of 39344
 
"there is more gold available now then in the Middle Ages, hence, relative value is now less."

Whatever the hight of the civilized world's population in the Middle Ages, there are hundreds of time more people now. So, the fact that there is also more gold makes the supply comparison of little consequence.

Further, the world had small experience with fiat money during the Middle Ages when gold was commodity money. What we are experiencing now is a revaluation of paper money to gold. A lot of the price pressures at present are about the decreasing value of paper - particularly the US dollar - compared to gold, and not the comparative value of gold to other raw materials.

VP in AZ
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