(Reuters) - The world's wealthiest people have responded to economic worries by buying bars of gold, sometimes by the ton, and moving assets out of the financial system, bankers catering to the very rich said on Monday. http://www.reuters.com/article/idUS...ters/businessNews+(News+/+US+/+Business+News)
I think super-rich investors buy gold by tons when they sense big wars. Gold price reach sky-high when there are war fears.
Very interesting article, going to be interesting to see what comes out of this whole gold buying frenzy in the next few months. Maybe they know something.
In the Great Depression, 3 of the things that held value (or went up) from beginning to end were: Gold Real Estate (the same amount of land, not necessarily recovering their price) Govt bonds gold seems awfully pricey. And so are bonds. Perhaps well chosen land might be more interesting - farmland, undeveloped land...
Buffett and Soros aren't into gold so your statement is false. They don't say who those worlds richest investors actually are. This is just pump and dump BS.
People that are rich want to stay rich. Gold is the ultimate way to stay rich. King Solomon in the Old testament used to receive a little over 22 metric tons of gold per year. (1 kings 10:14) In todays gold prices thats about $787 million dollars per year. But remember...that was over 3000 years ago, when $787 million dollars was actually worth something.