lifestyle leader

There has been a lot of noise recently about gold cracking $1,000/oz last Friday and what that means for investments, etc. We will likely have a lot more to say about that in some posts this week, but here are some quick thoughts:

1) I don't know anything about investments.

2) The $1,000/oz benchmark is making a lot of news because human beings like benchmarks and even numbers. The fact that gold moving from $999/oz to $1,000/oz results in headline news, whereas its moving from $983/oz to $984/oz would not, tells you a lot less about gold than it does about the financial press.

3) Today I saw a headline from the Moncton Times & Transcript that read: "Now is the time to invest in gold." Now - bearing in mind point 1)! - I suspect that by the time an article in a small-town syndicated newspaper is telling you to invest in X, it is no longer a good idea to invest in X.