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Platinum Super-attractive to Gold
Both precious metal, the current relative valuation of platinum vs. gold makes platinum a better bet than gold.
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An interesting piece on how China’s insatiable demand for the US pecan drives up its price.
Pecans are as all-American as anything can be. Washington and Jefferson grew them. They are the state nut of Arkansas, Alabama and Texas. The U.S. grows about two-thirds of the world’s pecans and chews most of them itself. For generations, pecan prices have fallen with bumper crops and soared with lousy ones. But lately, they’ve only been going up. A pound of pecans in the shell fetched $2.14 on average last year, according to the U.S Department of Agriculture, nearly double what they brought three years earlier.
The reason: The Chinese want our nuts. Five years ago, China bought hardly any pecans. In 2009, China bought one-quarter of the U.S. crop, and there’s no sign demand is abating.
Jim Rogers update on commodities
Jim Rogers gives an update on commodity investing. Watch his comment on Obama’s policy proposal.
Gold passes $1,200
Gold just passed $1,200 per ounce.
Gold’s rise has support from fundamentals, but every time you see parabolic move, the bubble is forming. One of the key lessons for investors is “bubble has legs”, it will eventually burst, but nobody knows when.
In 2008, we had “mother of all bubbles” —oil price shot up to $147 per gallon. In 2009-10, we may well have another greater bubble, the gold bubble: $2,000, anyone?