I’VE NOTICED that despite the economic turmoil, the price of gold actually fell on Friday, along with other precious metals. I wonder if this explains it:

Although the economy is weak, the price of gold and silver has increased, causing a surge in business for some local stores.

“We’re having a lot of people coming in selling scrap gold like class rings, old wedding bands, broken chains,” says Bill Kitts, owner of Westside Coins and Collectibles.

Perhaps this surge in supply is keeping prices down? Or is it just that most of the financial-armageddon types are still sitting on stashes of Krugerrands they accumulated in anticipation of Y2K, and don’t need any more?