Precious Metals Market News And Advice

Since the end of the 19th century, Americans have earned more than any other group. But at today’s dollar/euro exchange rate, many nations are already much richer than Americans. The average American earned about $38,000 last year. But the average person in Switzerland earned $64,000.

In Denmark, the average salary was $62,000. In Norway, Luxembourg and Germany all had average salaries around $60,000. The Belgians earned an average of $47,000. And the French…yes, dear reader…the frogs are now richer than Americans. The average Frenchman earns $42,000 per year. How’s that for divine comedy?

How’s that for taking the starch out of the flag? In the measure that really counts -money – the French are ahead of Americans by a substantial margin.
euro dollar exchange rate,
What does this tell us? First, the gold price is behaving much more like a currency than it is acting like a raw material. This is unsurprising given what little use gold has as anything other than a store of value.

Barely 15% of last year’s total gold fabrication worldwide ended up in either electronics (as gold bonding wire), coating for Space Shuttle windows, or in people’s teeth as dental fillings. But that lack of apparently practical use -which actually grew by 49 tonnes from 1998 to total 411 tonnes in 2007 – doesn’t mean gold is useless.