Last Updated : 04 December 2012 at 13:35 IST
If you were a Commodity, you should have born Gold
Source :Commodity Online Editorial Desk
Author :Rakesh Neelakandan
Please note that silver and crude oil are having industrial use, while gold has no other use except for investment. And 2009 being the year of QE1 could still not keep silver and crude oil on a high pedestal as enjoyed by gold. If you were a commodity, you should have born gold. Gold or nothing!
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- Precious, base metals may trade lower on strong dollar, rise in risk aversion
- Crude oil prices are expected to trade on the positive note on the back of expectation of decline in US crude oil inventories from API along with ongoing unrest in Middle East.
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Given below is a table of average prices of gold, silver and crude oil:
2001 and 2002 were turning points for gold, silver and crude oil prices. In 2001, gold prices began a trend in which the commodity mounted a rocket headed towards north; that rocket is still being propelled and viewed in the current light, gives one the impression that it is a rocket that would be fired for perpetuity. Gold prices dating before 2000 had its share of ups and downs in contrast.
Silver too began on an upward journey in 2002 along with crude oil. However, they had to retreat in 2009 as the economic slow-down bit. Please note that silver and crude oil are having industrial use, while gold has no other use except for investment. And 2009 being the year of QE1 could still not keep silver and crude oil on a high pedestal as enjoyed by gold.
If you were a commodity, you should have born gold. Gold or nothing!
Meanwhile, reports suggest that US dollar as a percentage of global holdings of reserve assets has seen a decline from 36.6% in 2006 to 28.7% in 2012.
Invariably, these investments got into gold, silver, crude oil and other asset classes as reflected in their prices. (rakesh@commodityonline.com)
