More oil for your gold
We are Kamaaina Loan and Cash For GOLD, so we are always fascinated by what gold does. Not that we have any control over it. We buy gold by the tenth of a gram; the big players trade a minimum 1,000 pounds at a time.
So we were as surprised as anyone when gold staged a rally this past week. Here’s what Bloomberg News reported:
Bullion jumped 4.1 percent last week for the best performance since August amid a global equity rout spurred by a stock market slump and a weakening currency in China.
Bloomber also reported that gold compared with oil is worth twice what it has been for the past generation — and that was before oil took another tumble yesterday:
An ounce of gold buys more than 33 barrels of oil, the most since 1988. The average ratio has been 16.
It sounds like an excellent time to bring your broken or unused jewelry, any gold coins you find behind the cushions in your sofa or any other unneeded gold you have to Kamaaina Loan and Cash for GOLD.