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The Gold price isn’t about Gold!

Since 2000, the gold price has risen from $300 to $1,400 an ounce. There are several more important reasons than its being ‘just a commodity.’ The strongest driving force behind gold’s rise in the last four years has been investment demand. As a commodity, it doesn’t tarnish, it’s a great conductor, and makes good looking jewelry. But these reasons are not the reasons why people invest in gold.

When they do buy gold, they lock it away. When they do keep it close, they take it out only occasionally to look at it. Most gold is never looked at or ever seen by its owners. It is stuck in a vault below ground. So if gold is not used or admired, why was so much of it bought so as to make the gold price multiply more than four times over this century and why will so much be bought in the future so as to make it likely to multiply a few times more in the future?

In short, the gold price is not about gold, but what the investor believes it to be and the value he assigns to it. More than that, it is about the gold investor and what drives him.

Reasons to Invest... (click title for full story)