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"All that glisters..."


The “gold standard” for many years governed international trade and for a very long time, at least in Australia, the sale of gold was very heavily restricted. If you mined it you had to sell it to the Government and the price paid was fixed for years at $US30 an ounce.

Predictions of a gold price of $2000 before Christmas (which Christmas?) are regularly trotted out, but I find the most fascinating part of the gold world is the transfer of pallets in the vaults of London, Paris, Fort Knox or Moscow from one side of a vault to another in satisfaction of one country’s debts to another.

My former chemistry teacher was horrified by the thought that platinum (in my school days, worth much more than gold) was used for making jewellery.

What did he think of gold? Not much, but he always thought that it should be put to better use than for mere decoration.