The true value of Christmas – and of gold

Every year, this time for the fortieth time, the PNC Financial Services Group calculates how much it costs to buy a set of gifts mentioned in the song. It is an indicator of inflation, similar to the consumer price index. When it was first calculated annually in 1984, around 20,000 US dollars had to be paid. It is about poultry, skilled workers, swans and golden rings. Today, according to the current calculation, almost 48,000 US dollars have to be paid for these goods. If you look at the price of gold, around 460 US dollars had to be paid for an ounce of gold in 1984; today it is around 2,000 US dollars. Gold has therefore become significantly more expensive than the basket of goods and services. This speaks for the performance and the value-preserving function of gold.

In the PNC Christmas Price Index, the price increase is mainly due to rising wages for skilled workers. On average, the contents of the carol became 2.5 percent more expensive compared to 2022. The US Consumer Price Index went up by 3.2 percent compared to the previous year, which is similar. Even if the goods and services in the two indices are not the same. However, over the years, it has been shown that the PNC Christmas Price Index has often risen or fallen, as has the US Consumer Price Index. It is therefore not just a fun way to spot trends. In any case, gold performs very well over the decades. Stocks of gold companies should not be missing from the portfolio. For example, Skeena Resources or U.S. GoldMining.

Skeena Resources – https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/ – is revitalizing two gold properties in British Columbia’s Golden Triangle.

U.S. GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ – owns the promising Whistler gold-copper project in Alaska.

Current corporate information and press releases from Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ -) and U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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