Support for the gold price could soon change to a rush for gold
“But there’s fashion and there’s style; they’re not the same thing. Fashion is temporary and changes. Style is permanent and adapts. Investing in stocks, outside of a clear strategy based on a buy-and-hold approach, is often a fashion. Gold may be traditional now, but it’s never out of style. And it may soon become fashionable again. Indeed, the change, or the shift, has already begun.”
USAGOLD note: The allusion to fashion reminds us of the old maxim that an ounce of gold from time immemorial would always buy a quality man’s suit. “The price of a fine suit of men’s clothes,” wrote the U.S. Geological Survey last year, “can be used to show anyone who is not familiar with the price history of gold just how very cheap gold is today. With an ounce of gold, a man could buy a fine suit of clothes in the time of Shakespeare, in that of Beethoven and Jefferson, and in the depression of the 1930s.” At present, a quality men’s off-the-rack suit at Brooks Brothers without the shoes and tie ranges in price from $1700 to $2500.
Repost from 11/5/2019