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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (11463)	5/26/2003 11:17:58 PM
From: Elizabeth Andrews	Read Replies (2) \| Respond to of 39344

You are lucky I just sold my pit bull as I never said gold couldn't or didn't advance through a deflationary period. But the main problem is that your facts are once again wrong. The first data on the US Official gold price was in 1786 and it was fixed at $19.49 where it stayed until 1792 when it was fixed at $19.39. It stayed at that price until 1834 when it was raised to $20.67 which it stayed at, within pennies, until 1933 when it was raised to $35 in 1934 and again to $38 in 1972 and again to $42.22 in 1973, which is where it is today. Gold did not rise on its own. There was a blip in 1862 to 1877 when another bubble cycle occurred and gold rose to over $42 or almost double the official price. The final uncoupling came in 1968 when gold rose to $39, which signaled the end of Bretton-Woods. The rest is history and there has been no unified attempt to fix the price of gold for the past 32 years. Your data have nothing to do with inflation or deflation so the Pekinese is on its way.