The price of gold has reached historic highs. As young economists, can you predict some of the consequences of this? Go beyond the obvious of just more expensive jewelery.
Sunday, March 09, 2008
Price of gold soars
The price of gold has reached historic highs. As young economists, can you predict some of the consequences of this? Go beyond the obvious of just more expensive jewelery.
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7 comments:
My best educated guess is that the price of gold went up because it costs more to transport it (gas) and the value of the dollar goes down which gives us problems with gold imports. Not to mention the price of labor might have gone up. Either way, it all means more money for a chunk of shiny stuff.
This is kind of exciting. My grandma and grandpa(according to my dad) supposedly have gold. Hopefully I'll inherit some!
Seeing the economy as it is, I would invest in gold because its one of the few things people will always want.
In conclusion, its time to pull off an Italian Job
personally i never really got the value of gold. the only way its useful to me if or jewelry and even then i prefer white gold and silver. im not really sure if this effecrs me directly or indirectly but if prices continue to rise its bad either way
if the price goes up noone will want to sell their gold because it is too valuable and then that will create a lack of supply which will drive the price up even more.
i was just surfing the web today and i saw another story concerning this very topic, coincidence?? maybe, or maybe it was fate. but anyways the article was talking about how with the price of gold becoming so high that people are wondering if now would be a good time to sell their gold jewelry and such, which it seems to be will drive the price back down because there will be more gold back in the market, which kind of defeats all this hoopla going around concerning the gold. also, i hope that the price does not go back down because my dad invested some of my college money into gold, so i want to gain all the money i can...
Personally, I'm not a huge fan of gold, but it is nice to see that the price is increasing. Sounds like a good investment in our stock exchange game.
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