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 To bring up the discussion on gold as a form of investment, |
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ceo/cfo
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加入时间: 2004/11/05
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作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
personally I would stay away from investment in gold for the long run. Here is the reason why. Gold is just another kind of commodity, same as copper or silver. The value of gold all depends on the golden rule of supply/demand or the invisible hand of the marketplace. It is relatively hard to stock, less easy to trade, and it never brings in any interest income. The golden year or peak year for gold was 1980 when the gold price approached US$850 and then it dropped like a rock to $350 in the 90s. In 2003 alone, all the banks in the world had about 33,000 metric tons of gold in their vaults which represented 25% of all the gold ever mined collectively, historically, and internationally; during the same year the whole production of gold in the whole universe either from mining or scrapping was 3,200 metric tons. That is to say for the next ten years (from 2003 to 2013) we might survive without even one ounce of gold mined or scrapped worldwide if the banks choose to sell their stockpiles to the marketplace. I am talking about a huge imbalance of supply/demand here ever since the gold standard currency system was abolished. As a matter of fact the Canadian government got rid of their gold reserves; last year the Russians were selling their gold reserves in the open market to catch a relatively higher price. (Here again the timing is everything!!).
Of course the gold is considered holding more value than paper money during any hyperinflation such as during 1947-1949 in China and 1989 in Argentina where one month inflation could reach almost 200%. Do you think such hyperinflation would appear in the USA or China?? I don't think so and I hope not!! at least at my life time.  
作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 To bring up the discussion on gold as a form of investment, -- ceo/cfo - (1707 Byte) 2006-11-29 周三, 06:55 (1722 reads)
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