Gold is backing away from the $1,000 mark again, trading at $949.10 a troy ounce as this is written.
Aside from the usual armchair analysis that I could give, the price movement helps me out a bit. How so? Am I betting on a lower price?
No, that isn’t it. It is something more mundane.
On a weekly basis we publish the price of gold on Page 4 of Numismatic News. The June 16 issue went to press last Thursday reporting a price on the page of $954.50 a troy ounce. The problem was the price was actually $10 higher.
Errors of that kind are always embarrassing. We not supposed to do such things, but every so often I find proof that we messed something up. This was one of those occasions.
In this case, the market has followed our errant report lower and readers will not be misled by it.
I am reminded of a program that I used to watch called “Early Edition,” where tomorrow’s newspaper showed up at the door of the hero today so he could stop some mayhem from happening.
Numismatic News is not such a magic newspaper, but in this case events have followed what was reported and I was reminded of a show I used to like.
Everybody wins. What a relief.