Gold prices and the cost of gold bars has hit recent and long term highs and causes interesting global side-effects. Notably, recently the Venezuelan government has ordered all of its gold repatriated, or brought back into the country from banks across the world for the purpose of safeguarding it from instability in the world markets. Listed as the 15th largest holder of the valuable mineral, Venezuela was holding 211 of its 385 ton reserves in US, European and Canadian banks.
It is an old tradition in Vietnam for individuals to purchase and stash gold hoards at home, however recent rises in gold prices has spurred a fevered gold grab in the country. This has the Vietnamese government worried about the already unstable economy featuring the Dong, Vietnam's dollar. If this gold grab continues at this pace, it will likely see artificial inflation in the price of gold.
In fashion news, yes fashion, designer Jean Paul Gautier has teamed up with Dillon Gage Metals and are currently turning out designer gold bars. These one ounce units come with a designer name and heart design to add a bit of bling to your bling. One can now store their investments in style. This event marks the first time in history when a fashion designer has created a gold ingot. Hooray world! We can now be extravagant about our extravagance!
All of the signs point to gold hoarding all over the world and a decrease in the value of paper monies. Now is the time to be making those gold purchases, and if you have any gold, hang on to it like it is your lifeblood. Giving up your gold now could possibly be the worst mistake in your life. If the world economies collapse any further, which they are likely to do, paper money will be worthless within the next five years. Gold is still golden in the eyes of those looking to invest.