How Much Does Gold Cost?
So, you may be wondering, how much does gold actually cost these days?
The fact is the value of gold actually does not change all that much. What does change is the amount of money needed to buy gold.
Apart from some isolated peaks, gold’s purchasing power has not changed very much over the past 100 years.
What has changed however, is the value of the dollar. The dollar has steadily decreased over the years and consequently we have seen accelerated inflation since the US government ceased using gold to back US currency.
In fact, if the US were to return to a gold backed currency it would take over 52 thousand dollars to buy one ounce of gold. This is because the printed paper that we call the dollar has decreased in value so much.
So the question is not so much, how much is gold, but should be, what is the value of gold?
An ounce of pure gold will purchase pretty much what it purchased twenty years ago, or one hundred years ago or even two hundred years ago. In times of economic crisis or inflation or depression gold always stands out as a stable value….even when you might need wheelbarrows of dollars to buy a loaf of bread, a tiny gold coin would be enough for you to buy a wheelbarrow full of bread.
So when you ask how much is gold you are really asking what can I buy for this amount of gold - and the answer is….just as much as you ever could.
Remember - “take care of your money and your money will take care of you.”
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