It may be time to take a look at them. Jim Grant, in his last newsletter, made a nice case for gold, arguing the fact that gold, even beat up as it is, has lost much less purchasing power than the British pound, which is also the worlds oldest paper money, @ 300 years. He also points out the froth in the currency markets, because there is no anchor anymore.
The problem is supply and demand. If the central banks are dumping, for whatever reasons, it makes little sense to buy until we can find a bottom. I figured the bottom for oil, but the metal markets are much more prone to manipulation, by a factor of 5.....
Housing market story>>http://cbs.marketwatch.com/news/current/econ.htx?source=htx/http2_mw |
