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Kick Off 2013
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(January 2, 2013) We return from our annual Winter Break, and see that the gold market senses that the so-called Fiscal Cliff deal is no great shakes. With spending cuts postponed until some vague future date, and another debt ceiling fight scheduled for a few weeks away, it seems that Fiscal Nonsense threatens to be part of the political landscape until Heck freezes over.
None of this confusion and chaos makes us any less happy to be in the gold business. But it does make us even less optimistic about the future of the United States of America. The destruction of a once-mighty currency has throughout history signaled and paralleled the waning power of that same nation. Such has always been the pattern. So it’s not just a rhetorical question when we ask, Can it be any different for the USA?

But, back at the gold ranch, all is ready for the new year. We will have 2013-dated gold Eagles and Pandas by the end of next week, 2013 Austrian Philharmonics are in stock now, along with 2013-dated Canada gold Maple Leafs and Australian Kangaroos.

Gold ended the year 2012 at $1664.00 per troy ounce, establishing its twelfth consecutive year of gains in dollar price. However, 2012's gold price gain was only 5.47%, compared to the over 20% annual gains that the precious yellow metal has averaged each year since 2001.

Next week we will present “How I Spent My Winter Vacation in Washington DC and Lived to Tell the Tale.” It’s the story of a first-time visitor to our nation’s capitol, and how he found that Washington DC is not simply a scary personification of every citizen and taxpayer’s worst nightmare, but also a real town full of impressive monuments and buildings, national museums with free admission, the motto “Taxation Without Representation” on every license plate, and plenty of people who are just like us, only more so.

 

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