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Wednesday, December 16, 2009
Gold Market Update
The Financial Times report on gold was interesting. So many constituencies are taking refuge in gold that its price surge is the symbol of the age: a store of anxiety as well as value. How will gold buyers be able to tell when the top of the market is about to arrive? After all, gold is almost impossible to value beyond the cost of production, which today stands way below the current price. Apart from jewelry and small industrial applications, such as in electronics, gold has no use other than as an investment. So true!
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