In the last 2 years, most people have been excited about the rise in the gold price. On this day in 2001 the gold price was $275/ounce
<http://kitco.com/scripts/hist_charts/daily_graphs.cgi>
Today the gold price is $403/ounce. <http://kitco.com/charts/livegold.html>
This shows an increase of 46.5% over the 2001 price.
To put this into perspective though, consider the devastation of the USD. My interest is in New Zealand, where I reside for much of the time. The USD/NZD exchange rate on this day 2001 was 2.41663
<http://www.oanda.com/convert/classic>
Today the USD/NZD exchange rate is 1.54696
This shows an increase of 56% over the 2001 price.
Thus, I have been MUCH better off keeping my money in a NZ bank at an interest rate of 6.5% than I would have been if I had kept it in gold.
You Americans must be really pissed at how your currency is being destroyed!
Sidd.
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