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This oft used idiom describes something of great value and importance. Frequently, the item being praised has minimal intrinsic value – but the value to the user can be immeasurable. A canteen of water in the desert...
The wicked witch in The Wizard of Oz screeched this infamous line at the climax of the movie, and we were all relieved as she evaporated, leaving behind nothing but her black hat. But unlike film viewers, many gold investors won’t be rejoicing when this precious metal starts to melt down.
During times of extreme uncertainty and fear, investors are drawn to gold. In prior centuries, gold was the globally-accepted source of power and wealth for kings, empires and aristocrats. As children we read stories and watched movies about gold...