Further to my recent article about the gold possi-bubble [1], we can now add biting (and scratching) satire to the unfolding bull gold market story.
Cats for Gold [2] is a spoof site promising to turn “glitter into litter”.
At least I think it’s a joke? 😉
[3]
Interestingly, Cats for Gold emerges on the same day that an analyst called Dylan Grice at Société Générale suggested gold could logically trade at $6,300:
With central banks likely to be net gold purchasers in H2 2009 for the first time since 1988 the same starting gun is ringing out today. The price at which the USD would be fully backed by gold (as it was during the peak of the 70s mania) is $6,300. So there is a case for gold being “cheap.”
Moreover, the 70s bull market was facilitated by tight energy markets, overly accommodative central banks and nervousness that policymakers had lost their way. Sound familiar?
Needless to say, I’m personally unconvinced.
(Sorry, no link to Grice’s research note, I got it via the Financial Times‘ Market’s Live chat [4].)
Would you swap your wedding ring for a tabby or a Persian blue? Let us know in the comments below. 😉