Mises Daily
Author:
Thorsten Polleit
Online Publish Date:
Since the end of April 2001, the US dollar price of a troy ounce of gold has risen from US$264 to US$747 as of October 1, 2007 (Fig. 1) (November 1 spot is $783); in that period, gold has even “outperformed” the US stock market. To put it in less pleasant terms: the exchange value of the US dollar vis-à-vis gold — the world’s ultimate, freely