In this episode, I take the top three frequently asked questions about pricing in gold, and answer them. What am I trying to do with this web site? Why use gold as the measure of value? And the big one: how exactly does pricing in gold improve investment results?
Listen to the show for the answers, and to find out how to get great discounts on Custom Charts.
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Just a quick note — I still haven't found a good source for gasoline prices before April of 1993 (if you can give me a URL for this data, I would very much appreciate it!) but I did find the peak price for gasoline in California in March of 1981, the price point quoted in the news articles as being the highest "inflation adjusted" price (until now) for US gasoline.
That price was $1.66 per gallon, and the dollar at the time was worth about 63.6 mg of gold, so gas was around 106 mg of gold per gallon, about the same as the recent low in February of 2007.
Interestingly, the highest price I've found so far for gasoline is 295 mg of gold, back in 1970, when gasoline was selling for 34 cents a gallon (but the dollar was worth 880 mg of gold.)
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This week the retail price of gasoline hit a new all-time high. Is it time to sell the SUV and buy a hybrid? Listen to the second Priced in Gold Podcast to hear my comments on pricing gasoline in gold. I have also added the chart showing US retail gasoline priced in gold for the last ten years to the Charts section of the website.
Also new this week is the Priced In Gold Listener Hotline. You can now call me 24/7, toll-free at 888-868-5656 to ask a question or make a comment on the site or the podcast. I hope to add a "Listener's Corner" section to the show in the future, so please give me a call!
If the phone isn't "your thing", you can send email to editor@pricedingold.com or use the comment box below to get in touch with me.
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The big news this week is that the Dow Jones Indistrial Average has broken the 13,000 barrier, establishing a new all-time high. What does this all mean? Has the Dow been a good place to invest money? Listen to the first Priced in Gold Podcast to hear my comments on investing, the DJIA, and pricing in gold.
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A few months ago, my mother in law sent my wife an old copy of Woman's Day magazine. My wife loves dolls, and the January 1965 issue of Woman's Day featured articles on dolls and doll collecting (along with many other articles that would fit right in with today's magazines, such as "How to Have a New Figure for the New Year".)
What grabbed my attention, though, was the cover price of the magazine: just 15 cents.
I wondered how the price of magazines has changed over the last 42 years, measured in dollars and in gold. And it didn't take long to find out!
Woman's Day is still being published, and a quick trip to it's web site showed that the current cover price is $2.79. Using the London PM gold fix for 4/27/2007 of $21.78/gram, we see that today's cover price is about 0.128 gg. And in 1965? Gold was $1.14/gram, so the 1965 cover price was 0.132 gg.
Let's see… looks like the price is virtually unchanged over the last 42 years when measured in gold, but up a whopping 1,860% measured in dollars!
I don't think the magazine is 19 times bigger, or 19 times better… I think the dollar has shrunk to 1/19th of it's former self.
It's a great example of why I like to track prices in gold!
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This site will help you see through the fog of depreciating currency so you can really see how your investments are doing. The point is not that you should keep your wealth in gold, but that unless your investments are growing when measured in gold, you are not doing as well as you could by simply holding gold.
Take a look through the charts on the right to get an idea of how asset classes like stocks, commodities and the US Dollar are performing.
If you have any comments or questions, please write to me: editor @ pricedingold.com
And to keep in touch with the rapid changes in the investment world, sign up for the Priced In Gold newsletter, in the upper right hand corner.
Thanks!
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