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of today English
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News and current affairs
In my view, the most powerful argument to justify today's high price of gold is the dramatic emergence of Asia, Latin America, and the Middle East into the global economy.
After adjusting for inflation, today's price is nowhere near the all-time high of January 1980.
Today, with interest rates near or at record lows in many countries, it is relatively cheap to speculate in gold instead of investing in bonds.