Each morning as I start my day, I check the Kitco website to see what precious metals are doing.
Yesterday I wrote down $1,180.10 for gold and $17.52 for silver. This morning I wrote down $1,197.80 and $17.63.
If those numbers were the only information you had, who would think that the financial system almost melted down again yesterday purportedly due to some glitch?
That's some glitch.
While it is easy to get wrapped up in online virtual reality, it is important to take a step back from it. Even the stuff that is supposed to be real online might not be.
That's hard to wrap my mind around.
A little typing mistake can disrupt the world economy or worse.
That sort of puts typos in newspapers and blogs into perspective, doesn't it?
That isn't really my point, though. What I think is important to take away from this episode is the necessity of having some things in your life that are real and not affected by virtual reality. Obviously, home and family come to mind, but to whatever list you might compile, keep in mind that a coin collection is very real. You have it no matter what. There is some value there no matter what.
The same is true about gold and silver. Whatever happens, both metals are real. There is value there. There always will be. Market analysts simply argue about current and future prices not about whether they will have any value at all.
That's something to hold onto.
My point, I think, is true whether next year's gold price rises or falls. Gold is real. Real is good and it is something that can't be trumped by whatever happens online.