Word: priced
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Dates: during 2000-2009
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...full of misfits already makes it ripe gospel ground; Jesus was not likely to be sitting at the cool kids' table in the cafeteria. And it's set in high school, meaning it's about a journey not just to college and career but to identity and conviction, the price of popularity, the compromises we must make between what we want and what we need...
Gold, that barbarous relic, is having a thoroughly modern moment in the spotlight. Its price in dollars ($1,170 per ounce when last I checked) is setting a new record every few days. Cash4Gold and its competitors have been flooding the airwaves with ads exhorting you to fork over your gold jewelry for dollars. And for the first time since 1971, when U.S. President Richard Nixon unilaterally yanked the world off the gold standard, gold is also attracting interest from a crowd that usually doesn't pay it much heed: the world's central bankers...
...three decades ago amid the last big gold fever. When investors are scared - about inflation, about political turmoil, about financial breakdown - they return to the soft, shiny metal that has for millennia served as a store of value. When things calm down, as they did after the gold price peaked in 1980 at $850, demand for gold subsides and the price declines. (See pictures of modern day gold prospectors...
...there is more to gold's current boom than just a flight to safety. The metal is showing signs of a more sustained run at respectability. So while its price will at some point stop going up (and start going down), don't count on another descent into seeming irrelevance, as occurred in the 1980s and '90s. That's because of changes in the mechanics of investing in gold and the weaknesses of the current gold-free international monetary system...
Gold is unlikely ever to be a great investment in the sense that buying into Microsoft in 1986 or Google in 2004 has been a great investment. The price of gold in dollars has more than quadrupled since the end of the long gold bear market in April 2001, but over the long run the return has averaged about 2% a year, says George Milling-Stanley, managing director for government affairs at the World Gold Council in New York. (That compares with about 8% for stocks.) It's less a ticket to riches than what Milling-Stanley calls an "insurance...