Recently I heard that the gold price had gone over US$1000 per ounce.
As I haven’t made anything for a few years now, I was wondering how the prices for silver and gold have changed in the last five years. I found the following links for gold and silver prices, and have the graphs below.
Gold is now at the same price as it was early last year when the GFC was just being realised; and the same price it hit later last year. I wonder whether that is a portent? The Age recently had an article dampening the excitement of the price, looking more at the price in Australian dollars after accounting for the exchange rate etc [for the more financially minded], here.
A couple of other observations:
- silver moved in parallel with gold until mid-last year when it fell much heavier than gold did;
- it looks like silver now costs more than double what it did (in $US) when I was at university;
- we should have stockpiled silver (and gold, if you can afford it!) late last year;
- and though I didn’t use a lot of gold (though she is just lovely to work with), it is now over two-and-a-half times more expensive than five years ago;
The comparison of silver and gold reminded me of something my very first teacher once told me – silver is the bitch of metals, gold is the queen (if you’ve made with both, you’ll know what she meant!).