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<p>[QUOTE="-jeffB, post: 1239027, member: 27832"]I'm still not buying the "gold is the ultimate reference for value" idea.</p><p><br /></p><p>When gold fell from $700 to $300 in the early 1980s, I certainly didn't see the price-in-dollars of my groceries or my tuition drop by over 50%. And while prices have certainly gone up somewhat in the past 10 years, they sure haven't quintupled as gold has.</p><p><br /></p><p>Gold isn't "just another" commodity, but it <i>is</i> a commodity, and <i>its value fluctuates</i>. Its value has spiked here of late, <i>much</i> more sharply than the value of the dollar has fallen.</p><p><br /></p><p>Or, if you insist: the value of gold has remained constant over the last five years, and the value of the dollar has decreased fivefold. But the cost of nearly everything else -- food, housing, gas, clothing -- has tracked closer to the dollar than to gold. That makes gold a poor yardstick of value, IMO.[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 1239027, member: 27832"]I'm still not buying the "gold is the ultimate reference for value" idea. When gold fell from $700 to $300 in the early 1980s, I certainly didn't see the price-in-dollars of my groceries or my tuition drop by over 50%. And while prices have certainly gone up somewhat in the past 10 years, they sure haven't quintupled as gold has. Gold isn't "just another" commodity, but it [I]is[/I] a commodity, and [I]its value fluctuates[/I]. Its value has spiked here of late, [I]much[/I] more sharply than the value of the dollar has fallen. Or, if you insist: the value of gold has remained constant over the last five years, and the value of the dollar has decreased fivefold. But the cost of nearly everything else -- food, housing, gas, clothing -- has tracked closer to the dollar than to gold. That makes gold a poor yardstick of value, IMO.[/QUOTE]
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Is anybody still buying silver and gold?
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