Gold Mining
November 6, 2007
The Financial Times that gold has been advancing because the dollar has been going down, but if the dollar rallies gold will take a dive. Another newspaper says that gold has been going up because the mines in South Africa are producing gold at their lowest rate in years. Gold mining is down means that gold prices go up. For me, gold has been rising in reaction to the trillions of dollars, rupees, pesos, rubles, reals, yuan etc. that are flooding the economies of the world. An ocean of paper is being created and as the purchasing power of all this paper is diluted, it requires an increasing amount of any given currency to buy given unit of the ultimate tangible money — gold!
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