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Gold price loves a crisis

By Implode-Explode Heavy Industries

``"Gold is a form of crisis insurance, one that just keeps paying," Mr Ash said. "If you bought when Northern Rock started to crumble you would have doubled your money by now. It has kept paying out as crisis insurance for the past four years."... But there is still scope for outperformance, as the inflation-adjusted price is still way off its highs 30 years ago. It hit $850 an ounce in January 1980, which is something in the order of $2,250 when adjusted for inflation. If the 1980s really are back, gold has much further to run. ''

Full post as published by Mortgage Lender Implode-o-Meter on March 02, 2011 (boomark / email).