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You purchased a one-ounce bar of gold for $1,200 in February 2015. You would like to sell that bar of gold now to help pay
You purchased a one-ounce bar of gold for $1,200 in February 2015. You would like to sell that bar of gold now to help pay your tuition in the spring. Determine the current price per ounce of gold and keep in mind that you can sell it for the bid price (not ask). You can find current gold prices on www.Kitco.com under the All Metal Quotes tab. If you sell your ounce of gold for the bid price today (7 years later), what return did you earn on your investment in gold?
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