Every holiday season, there are some gold-holders who deposit some gold into a Salvation Army kettle during the Christmas drive. The first recorded gold coin in a kettle this season took place in York, Pennsylvania. "The South African gold krugerrand is valued at nearly $1,200. It was wrapped in a $1 bill."
Interestingly, no gold coins were donated in that city last year - only some gold jewelry. As of this time last year, gold had dropped to about $750/oz and (of course) the financial crisis was in full swing. Unlike the general averages, gold stocks bottomed in November 2008.
It just goes to show you: prosperity enjoyed tends to be prosperity spread.
Tuesday, December 1, 2009
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