No Gold Bubble

 

 

No Gold Bubble

Greenspan also said that he did not think gold, which reached a record above $1,900 an ounce this week, was in a bubble. 

“Gold, unlike all other commodities, is a currency,” he said. “And the major thrust in the demand for gold is not for jewelry. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.” 

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