Wisdom of Crowds Helps Explain Gold's Rise

Source:

All around the world, investors believe in gold. If you ask them why, you will get a number of explanations and a level of conviction that has endured despite opinions of many "experts" that gold was overpriced at $500, then at $600, and so on until it reached and passed $900.

All around the world, investors believe in gold.

If you ask them why, you will get a number of explanations and a level of conviction that has endured despite opinions of many "experts" that gold was overpriced at $500, then at $600, and so on until it reached and passed $900.

It reminds me of an enlightening book I read a few years ago called "The Wisdom of Crowds." The book's basic premise is that "large groups of people are smarter than an elite few."..

The "wise crowd" around the world - institutional and individual investors - has been buying gold as a safe haven from currency risks and the trillions of dollars invested in derivatives, and as a way to recycle petrodollars...

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