Your Own Golden Fleece

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There is a strange tale of a ram with gold fleece, from Greek mythology. If anyone is familiar with the story, they likely know about Jason and the Argonauts. Where Jason is sent on a quest to steal the gold fleece and bring is back to King Pelias. Like most good heroes, Jason successfully takes the fleece and returns home on his quest. The story of how the fleece got to Colchis is far more brilliant and intricate than Jason coming to slay a dragon.

Athamas the Minyan, a king from Southern Greece took the goddess of clouds, Nephele as his wife. They had two children together, but then Athamas fell in love with another woman. Nephele left, but her children stayed. Their step mother became jealous of the children and started plotting for ways to kill or get rid of them. Nephele then came to her children one night with a ram that had gold fleece. The ram was the offspring of Poseidon who had slept with a nymph. The children climbed on the back of the ram, who then flew away in the sky. The daughter fell to her doom, but the son was taken safely to Colchis where he then hung the fleece in the sacred garden of Ares.

There are many interpretations of this story, and many theories behind the meaning of the Golden Fleece. Many historians believe that the mythical fleece is likely a metaphor for real gold encountered by Greek shepherds. When the fleece was washed in the river, it would catch flecks of raw gold that would remain there even as the fleece dried on the racks.

Gold has a long and tumultuous relationship with mankind, one that dates as far back as 4000 BC. Men have died and civilizations have been destroyed in pursuit of gold. Despite this dark background, one thing has remained constant for and about gold: its value. Today many people have chosen to invest in gold as the international economy has proven to be less than reliable. When investors and sellers price gold, they are looking at it almost as if it is a currency instead of a commodity. A person can invest in gold in a variety of ways, coins, bars, or just through the stock market. Either way, going with gold is a smart choice, because the value of gold has withstood the test of time.

Fast forward to 2014.  Gold has remained a wise choice for investors who wish to add the stability of a tangible asset to the investments.  Where once gold was the ultimate ingredient for building wealth, it is now nearly the only way to preserve it.  With local and global economic concerns, investing in precious metals has become one of the few ways to diversify your portfolio to the point where you no longer run the risk of losing everything.

While there are many events on the horizon that should see the gold price dip a little in 2014, there is an equal amount of speculation that the price should rise.  Sometimes it’s easier to get a straight answer about whether or not it will snow in the northeast tomorrow.

A lack of investor confidence in our country’s economic situation, particularly regarding the debt ceiling, the deficit, added to the appointment of Janet Yellen as the new chair of the Federal Reserve, point to a demand for the safe haven of a gold investment.  Couple that with a stronger than ever international demand for precious metals, namely gold, and you have a climate where the gold price will surely rise.  Or it will snow.