Financial Information
why gold rate increases when dollar rate decreases?
today i was checking the newspaper where i heard that gold price has risen because dollar rate in falling why what is the connection
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The value of gold is the value of gold. 200 years ago an ounce of gold would by a fine man’s suit of clothes. A hundred years ago an ounce of gold would by a fine man’s suit of clothes. In 1955, an ounce of gold would by a fine man’s suit of clothes. Today an ounce of gold would by a fine man’s suit of clothes. The only thing is that today there are more dollars chasing after the gold. The fed creates more dollars so each dollar (whether printed currency of fictitious credit) has less value. The simple fact is there is less true value behind a dollar since we left the gold standard so many years ago which guaranteed every dollar bill. “As sound as a dollar?” Not so much these days