Gold Mine: Links and tweets from around the Web

August 8, 2011

A worker scoops gold shots at Japanese jewellery brand, Ginza Tanaka's original equipment manufacturer (OEM) factory in the Chiba prefecture, east of Tokyo September 14, 2009. REUTERS/Yuriko Nakao One consequence of the stock market decline is that everyone is talking about investing in gold as it hits record highs. But what are they saying?

A quick trip around the Web today came up with a treasure trove of things to think about, from advice on what to do now, to historical perspectives to funny tweets. There’s analysis that says gold will go up, there’s analysis that says gold will go down. And there are worldwide repercussions that you might not have ever considered.

Here’s a sampling:

From the anti-gold crowd, there’s Roland Gribben, writing in the London Telegraph that this gold rush is nothing new and there shouldn’t be such a frenzy, and Alexander Green, Investment U’s chief investment strategist, writing in ETF Daily News that gold and silver investors are losing their minds. And then there are true contrarians, like Gary Noth writing on, that all the experts telling you how to invest in gold, or why to invest in gold, are not worth listening to.

Among those bullish on gold are the powers that be at JP Morgan Chase, who issued an advisory predicting that gold will hit $2,500 by the end of the year. There’s also analysis from the Autochartists Team at that shows gold continuing to go up. And then there are reports like Maike Currie’s in that explain why “the sky’s the limit.”

For historical perspective, there’s a link to an Alan Greenspan essay on gold from 1966 that was first published in Ayn Rand’s  “Objectivist” newsletter titled “Gold and Economic Freedom.” It’s mostly a defense of the gold standard, but it includes gems like: “Deficit spending is simply a scheme for the confiscation of wealth.”

As for unintended consequences of gold and uses of gold that you might not have thought of, there’s an article on the “Consequences of high gold prices on weddings in Pakistan” and one on gold-plated contact lenses that are now, even more, the folly of the rich. And for anyone considering wedding bands, there’s the statistical note that now gold is as valuGolable as platinum.

As for witty remarks, Twitter is full of them. You can list your favorites below in our comments section, but first, here are a few of ours:

  • From @tzsawyer: Two words for today: “Gold” and “Firearms”
  • From @uless: Really, S&P just had a lot of old jewelry they wanted to send to Cash 4 Gold
  • From @M_Wozniak: my decision to over-balance into gold stocks and funds 3 years ago is paying off
  • From @jimmyrey: I wonder if I should convert my 401k into gold & jack daniels…
  • From @chetansharma: i am formally accepting client payments in gold

For more news and tweets, follow Reuters live coverage of the Global Debt crisis.

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