Gosling's Grouse - Gold: You Midas well forget it

As it is the end of the year, I have been sorting out a lot of old bits of paper and came across an article in a consumer magazine Investors Week, which I edited at the beginning of the decade.

We are talking about late 2001, when the world was infatuated with technology stocks and investors were looking around the next big thing. Does anything change? In an article headlined Gold Fever Won’t Last, the writer argued the gold price was unlikely to move much above $280, having at that time peaked at just shy of $310 in early 1998. He finished his piece with a view from one bullish commentator who said: “The price of gold is largely dominated by the dollar. A weak dollar will force the price of gold to zoom up, but if this correlation breaks, it will not. Barring war, the only ...