gold to come under pressure, page-34

  1. 18 Posts.
    re: gold ......... for the followers 'Economist' has an article on Gold. It argues that the prospect of further gold price increase is not bright. While I do not share the views, it says:

    "It is worth remembering that although gold has been doing well in recent years, its price is still below the level reached during much of the 1980s and 1990s (see chart). As an indicator of what might happen to gold, pessimists point to the fate of silver. Central banks used to hoard the white metal, much as they hoard gold now. But they have long since sold their stocks, and the price of silver, at under $5 an ounce, is back to where it was two centuries ago. Analysts reckon that if central banks ditched all their gold, its value could tumble to $70 an ounce—a fifth of the current level"

    The comment about the price of silver is quite surprising that it is valued at the same level as two centuries ago!

    I hold LHG
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