Gold fever as new gold stores open in Palma
New stores but nothing like the number fifteen years ago
Compro Oro, reckoned to be Palma's number-one gold store. | Miquel À. Cañellas
Palma15/03/2025 09:58
Over the past six months, six buy-and-sell gold stores have opened in Palma and a seventh is about to open. The National Police say that so many openings are unusual and are an indication of a new boom. The police take a particular interest in these stores, as they must comply with security measures (safes, cameras) and are subject to inspection by the robbery squad.
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Investing in gold is not a refuge from geopolitical instability. Sorry. Gold is Money, and holds its value over time, minus minor fluctuations due to the manipulations of the unseen hands which take advantage of the market. What we use for transactions where National Banks oversee policy is currency, and all currency is issued as debt. It is not that the price of things goes up; it is that the currency becomes worth less because there is more of it. If one were to pay off all the debt, there would be no currency - but there would still be Money - which is and always will be gold, and silver.