BUSINESS

Market watcher offers $50G wager on price of gold

TAGs: Peter Grandich, pure gold

GoldGrandichMarket watcher Peter Grandich has publicly offered $50,000 to anyone willing to counter his assertion that an ounce of gold will close above $1,200 before it ever dips below $1,000. Interested bettors have until 11:10PM EST February 19, 2010 to put their money where (presumably) their gold fillings are. But the real reason to read Kevin Depew’s analysis of Grandich’s wager is for the nugget that “all gamblers die broke” which sounds terrible until you read on and discover that ‘broke’ in this context doesn’t refer to money, but some kind of abstract spiritual poverty. Fine, you keep your ‘riches’, and I’ll keep my winnings, and we’ll see which one the bank accepts as a deposit. Read more.

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