Gold at $1,000 an ounce

February 20, 2009
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The gold hawkers are right, at least for now. Gold has been a better investment than stocks, bonds and other conventional places to park moneyâ??hitting $1,000 an ounce today.

That signals investors are nervous about prospects for the economy and mainstream investments, says Courtenay Stone, a Ball State University economist and former official at the Federal Reserve Bank of St. Louis.

Investors are worried about the sliding economy and paying off the $1 trillion-plus stimulus, Stone says: â??Itâ??s kind of an investment of desperation.â??

In a few years, inflation will roughly double from the 2.5 percent typical of recent years, Stone believes, but wonâ??t approach the 10 percent or more experienced in the â??80s.

How do you feel about the economy, and about gold as an investment?
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  • And 6 months ago oil was at $140 a barrel with experts predicting $200+. What goes up must come down. Gold was a good investment 6 months ago. But who knows when it will come crashing down. After it hits $2,000 an ounce or $1,001 an ounce.
  • on a similar note, the Japanese are most likely cleaning up well. Aparently their sewage yields more gold than top mines. go to yahoo and search (with quotes) Japan sewage yields more gold than top mines.
  • Must be hard on the local jewelry stores...

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