Wednesday, November 10, 2010

Tea Party Gold Rush

Photo via Wikimedia Commons

Think of gold as the Tea Party of investments, advises the NY Times. But don't fall for the notion that gold is hitting new highs. David Leonhardt reminds you to allow for inflation:

"The actual record was set 30 years ago, when the price of gold, in today’s dollars, hit $2,387, or 71 percent higher than it closed on Tuesday. "

Does this mean the gold boom still has a ways to go? Or will investors end up tumbling out of their "24-karat safety net"?

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