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Posts Tagged ‘gold bugs’

On Saturday, November 14, 2009, financial analyst Al Martin effectively told gold shills to take a shill chill pill, on Erskine Overnight. In the fourth segment of the first hour, he stated that:

  • The IMF gave India a 0% interest-free loan to purchase 200 tons of their 403 metric tons of gold they planned to sell, because they wanted to prevent it from going to market.
  • The week before, India announced a huge sale of silver.
  • China refused a deal to buy the remaining 203 tons of gold from the IMF.
  • China said it’s not a huge buyer of gold.
  • New mine production of gold continues to increase.

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On Wednesday, October 14, 2009, LewRockwell.com featured an article with the headline, “The Best-Performing Asset of the Decade: Gold, of course

But one shouldn’t pass judgment on the entire decade based on the value of gold relative to other precious metals on a single day.

Had the article been written on March 6, 2008, the title would’ve been, “The Best-Performing Asset of the Decade: Platinum, unfortunately”

Unfortunate, for gold bugs that is! Silver also outperformed gold as well. Ouch!

On December 30, 1999, gold had a London Fix afternoon price of $290.25 per ounce, while silver and platinum had a value of $5.33 and $443.00 per ounce, respectively.

On March 6, 2008, gold had a London Fix afternoon price of $986.25 per ounce, while silver and platinum had a value of $20.80 and $2249.00 per ounce, respectively.

Over the decade, platinum increased its value by 4.51 times, silver by 3.90 times, and gold by only 3.40 times.

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