Gold Prices Quotes & Sayings

The gold standard had its advantages, no doubt. Exchange rate stability made for predictable pricing in trade and reduced transaction costs, while the long-run stability of prices acted as an anchor for inflation expectations. Being on gold may also have reduced the costs of borrowing by committing governments to pursue prudent fiscal and monetary policies. — Niall Ferguson

You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all
not some
all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value? — Warren Buffett

If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy. — Murray Rothbard

When I look at asset prices; real estate, bonds, equities, vintage cars ... I think that gold is actually one of the few assets that is relatively cheap, relatively inexpensive. — Marc Faber

The supplementary quantity of gold that streams from it into commerce goes at first to the owners of the mine and then by turns to those who have dealings with them. If we schematically divide the whole community into four groups, the mine-owners, the producers of luxury goods, the remaining producers, and the agriculturalists, the first two groups will be able to enjoy the benefits resulting from the reduction in the value of money, the former of them to a greater extent than the latter. But even as soon as we' reach the third group, the situation is altered. The profit obtained by this group as a result of the increased demands of the first two will already be offset to some. extent by the rise in the prices of luxury goods which will have experienced the full effect of the depreciation by the time it begins to affect other goods. Finally, for the fourth group, the whole process will result in nothing but loss. — Ludwig Von Mises

Nobody really understands gold prices and I don't pretend to understand them either, — Ben Bernanke

To measure prices by a currency that is called by the same names as gold, but that is really inferior in value to gold, and then - because those prices are nominally higher than gold prices - to say that they are inflated, relatively to gold, is a perfect absurdity. — Lysander Spooner

Gold is not necessary. I have no interest in gold. We'll build a solid state, without an ounce of gold behind it. Anyone who sells above the set prices, let him be marched off to a concentration. That's the bastion of money. — Adolf Hitler

A gold standard doesn't imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself. — Ben Bernanke

There are five main purposes of central bank cooperation" ... "the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful. — William Smith White

Prices too that day indicated the state of affairs. The price of weapons, of gold, of carts and horses, kept rising, but the value of paper money and city articles kept falling, so that by midday there were instances of carters removing valuable goods, such as cloth, and receiving in payment a half of what they carted, while peasant horses were fetching five hundred rubles each, and furniture, mirrors, and bronzes were being given away for nothing. — Leo Tolstoy

A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store of value for wealth, but it is not a means of payment. You cannot pay for your groceries with it. Nor is it a unit of account. Prices of goods and services, and of financial assets, are not denominated in gold terms. — Nouriel Roubini

Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. — Ben Bernanke

By accident, some traders had stumbled across a route controlled by Verizon that took 14.65 milliseconds. "The Gold Route," the traders called it, because on the occasions you happened to find yourself on it you were the first to exploit the discrepancies between prices in Chicago and prices in New York. — Michael Lewis

When the Europeans conquered America, they opened gold and silver mines and established sugar, tobacco and cotton plantations. These mines and plantations became the mainstay of American production and export. The sugar plantations were particularly important. In the Middle Ages, sugar was a rare luxury in Europe. It was imported from the Middle East at prohibitive prices and used sparingly as a secret ingredient in delicacies and snake-oil medicines. After large sugar plantations were established in America, ever-increasing amounts of sugar began to reach Europe. The price of sugar dropped and Europe developed an insatiable sweet tooth. Entrepreneurs met this need by producing huge quantities of sweets: cakes, cookies, chocolate, candy, and sweetened beverages such as cocoa, coffee and tea. The annual sugar intake of the average Englishman rose from near zero in the early seventeenth century to around eighteen pounds in the early nineteenth century. — Yuval Noah Harari

In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency. — Lysander Spooner

The way I see it, gold is headed over $1000 an ounce, probably much higher. At anywhere near current prices, it's the lowest risk, highest potential investment I can think of. — Doug Casey