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Friday, 20 November 2009

Gold update

the BBC report that:
"The Royal Mint has more than quadrupled its production of gold coins in recent months, as the record price of the metal has caused demand to soar.

Its output of gold coins during July, August and September rose to 32,736 ounces, compared with 7,500 ounces for the same period last year.

On Wednesday, gold hit an all-time high of $1,152.75 an ounce, and has climbed more than 30% so far this year.

The Mint has also increased production of silver coins, up 56% in the quarter. "
Hyper inflation here we come.

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