Regardless of what the economy does, gold will always be equal to it. I have been tracking gold values for nearly 15 years on a weekly basis and the ups and downs are very evident. And the reporter is right, you don't buy gold to profit, it only maintains the value of the economy and a hedge against inflation and devaluation. Unlike the dollar in an account that is only worth what inflation dictates, gold is the stabilizer in wealth.

The dollar devaluation has not been officially declared but it is very evident in every day buying by the consumer as it takes more dollars to buy the same product of a week ago. Imports make it most evident as the dollar grows weaker and it takes more dollars to buy the same imported product. It's called inflation.

Soon the US government will be forced to make an official announcement that the dollar value has declined so badly that they will print more paper money to offset its losses. Ultimately we will see triple digit or higher inflation. Incomes don't go up but costs keep increasing in multiples which lead to a depression.

Gold used to be $32 an ounce and I earned $1 an hour as a delivery boy. Today gold is $1000 an ounce, so my pay in today's dollars would be $30 an hour.
Not bad for a kid. Maybe the good old days really were the good old days.