It has been another up week for the metals, with gold up 1% to $1,983, silver up 4% to $25.38, platinum up 3% to $995, and palladium up 2% to $1,357.
From a year ago today, we have gold up a solid 16%, silver up 35% (Hi-Ho, Silver!), platinum 13% higher, and palladium on sale - down 29%.
Today I want to discuss “shrinkflation,” “skimpflation,” and the universality of owning gold. If you are a reader of this column, you may be familiar with “shrinkflation.” That is when manufacturers charge the same amount for a lower quantity. Such as when a can of vegetables used to be 15 oz, but now it is 12 oz. Or a bottle of laundry detergent is the same size and price but only holds 88 oz instead of 92 oz.
Another hidden form of inflation is “skimpflation,” when companies charge the same amount for the same quantity but lower quality. An example is a “Hungry Man” chicken dinner bowl that is still 15 oz but has 4 fewer grams of protein per meal. In other words, more gravy, less chicken.
Owning gold protects your ability to purchase the same quantity and quality of tangible goods in the future.
The number of dollars required to purchase items may increase, but so does the value of gold in dollar terms over time.
- Truck 0.5 gram Gold CoinSpecial Price $74.80 was $88.00
- Half Gram Gold Golden Train Shaped Silk Finish CoinSpecial Price $74.80 was $88.00
- Guitar 0.5 gram Gold CoinSpecial Price $79.20 was $88.00
- Game Controller 0.5 gram Gold CoinSpecial Price $79.20 was $88.00