Chart of the Week #70
I thought about this.. at the moment gold in the US vaults does some $35 per troy ounce, right? And yet, the spot price hoovers around $4000.
Some YT channels say that gold will climb along when US government revalues it's gold.
It will make us all rich!
Well,, gold will make you rich when we have a 1929+ market crash, but revaluation of the book value if gold won't.
Temporarily gold will go up some $1000, but then return, perhaps $200 above the original gold price, but probably not more..
I thought about this.. at the moment gold in the US vaults does some $35 per troy ounce, right? And yet, the spot price hoovers around $4000.
Some YT channels say that gold will climb along when US government revalues it's gold.
It will make us all rich!
Well,, gold will make you rich when we have a 1929+ market crash, but revaluation of the book value if gold won't.
Temporarily gold will go up some $1000, but then return, perhaps $200 above the original gold price, but probably not more..