Over the years, I’ve done a number of Fun on Friday posts about eating gold. You can have gold on your steak, on your desert, and even in your beer. Well, apparently some ancient Egyptians wanted the taste of gold in their mouths for all eternity. Archaeologists recently discovered a 2,000-year-old mummy with a gold tongue at an ancient Egyptian site called Taposiris Magna.
Many of SchiffGold clients hold silver patiently waiting for a drop in the silver to gold ratio. I am very much one of these patient holders of silver.
For those who aren’t familiar, the silver to gold ratio is exactly as it sounds: the price of gold stated in ounces of silver.
Today the silver to gold ratio is trading at about 87:1. In simple terms, this means it takes 87 ounces of silver to buy one ounce of gold.
The second richest man in Egypt has put half of his $5.7 billion net worth in gold.
During an interview with Bloomberg, Naguib Sawiris said he expects gold to rally above $1,800 per ounce as “overvalued” stock markets crash.
