The price of Gold is high and getting higher. At the time of writing it’s around USD$1663 per troy ounce, which is a few grammes less than an Imperial measure. To put that in words; one thousand, six hundred and sixty three dollars for a nugget of 1.6 Cubic Centimetres. Which isn’t an awful lot of gold. In British pounds that is a gnats over a thousand, in Euro’s eleven hundred plus.
In 2006 I looked at the price, which was a shade under USD$400 an ounce and thought that was pretty steep. Now some pundits are predicting USD$2000 per troy ounce by the end of the year, but perhaps they just want to sell / talk up the price to make money. Gosh is that my cynicism showing? Wondered where I’d put it.
Now I find myself wondering if history is going to repeat itself with a re-run of the notorious 1933 US gold grab Executive Order 6102 or Australia’s similar actions in 1959. Although there might be another re-run as US citizens who own gold ship it to Switzerland or hide it from the IRS by other means. No doubt one of the boy presidents fawning fan club will suggest it to him. Perhaps they already have.