Friday, May 19, 2006

Good News for Gold Bugs

By the end of 2006, there will be a gold stock index that concentrates all of its efforts exclusively on gold stocks.

"Standard & Poor's, the world's leading index provider, and TSX Group announced plans this week to create a real-time global gold index. Based in Canada, the index will track key gold mining companies around the globe." (ref)

gold bars
[Thanks for argox-usa.com for the image.]

See this also for the original announcement.

I hope that all of this recent gold activity wakes the central banks of this world up to the fact that gold can still play an essential role in keeping track of the issuance of currencies -- in fact, better than that: It will, whether they like it or not. Now it's up to them to figure out how best to implement it. (Personally, I think they've missed the boat so far.)

I mean, how many times do I have to say this? You can take the gold out of the standard, but you can't take the standard out of gold.

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