2 ms·
Just look at the gold price over the past 100 years, even the last 10-15 years have seen an modest increase. It will only go up & it is highly unlikely that it
by joshuaduffy 9y ago
Just look at the gold price over the past 100 years, even the last 10-15 years have seen an modest increase. It will only go up & it is highly unlikely that it won't ever be perceived as the asset compared to other precious metals.
- JumpCrisscross 9y ago> Just look at the gold price over the past 100 years Or 2,000 years: "the researchers look at pay for a Roman legionary, in the era of Emperor Augustus (27 B.C.-14 A.D.), who was paid a salary equivalent to 2.31 ounces of gold. A centurion was paid a salary equivalent to 38.58 ounces of gold. Compared to modern US Army salaries, a private is making 20% more than the legionary, and a captain is making 30% less than the centurion" [1]. A counterpoint can be found in silver, where unexpected Spanish silver production in the New World prompted inflation around the world [2][3]. TL; DR For historical reasons, gold is grandfathered into our collective consciousness. [1] http://www.mining.com/what-a-roman-centurions-pay-says-about-gold/ http://www.mining.com/what-a-roman-centurions-pay-says-about... [2] https://www.theguardian.com/cities/2016/mar/21/story-of-cities-6-potosi-bolivia-peru-inca-first-city-capitalism https://www.theguardian.com/cities/2016/mar/21/story-of-citi... [3] http://afe.easia.columbia.edu/chinawh/web/s5/s5_4.html http://afe.easia.columbia.edu/chinawh/web/s5/s5_4.html