Gold reaches all-time high.

[garybeck]

The price of gold has reached the all-time high today, at $1,008.90 per oz.

The only other time the price of gold was over $1,000 per oz was for a single day - March 18th, 2008.

[Warpy]

1. Gold follows inflation and deflation

If the dollar is allowed to fall farther, then gold will rise. If steps are taken to shore up the dollar, gold will fall.

The price we all need to watch isn't gold.

It's oil.

[enid602]

2. gold

And unfortunately, the last time gold was at $1000 an ounce (other than 3/18/2008) was about 30 years ago. As such, if you invested $1000 30 years ago, it would now be worth $1008.90.

[garybeck]

3. that is not true

Gold was not at $1000 per ounce "about 30 years ago". It never was near that, except for March 2008.



if you are referring to the time it reached ~$750 in the late 1970s, even if you purchased at the peak price back then, your investment would be worth 125% now, and that's the worst case.

the average from '82 to '02 is somewhere around $350/oz. so if you bought anywhere near the average price of the last 20 years prior to '02, your money has tripled in value. That's pretty good.

don't mispresent the facts... gold has been a great investment over the last 30 years (or more).