Gold has been a highly valued commodity going at least as far back as the ancient Egyptian culture in 2600 BC. But now, with economic instability and uncertainty over the health of major global currencies, the demand for gold has risen as a store of value and a hedge against inflation.
Over the past 12 months, the price of gold has gone up dramatically - up 25 percent from July 2009 (from $929 per ounce to $1,163 per ounce, after reaching a high of $1,250 per ounce). That has outperformed the Dow Jones Industrial Average (DJIA) on a percentage basis.
This success has not stopped some detractors from questioning conservative commentators and investing commentators that argue gold should be a part of a person's financial portfolio. However, a recent report by liberal member of Congress Anthony Weiner, D-N.Y., argues that one gold dealer, Goldline "grossly" overcharges for the gold coins and employs deceptive sales techniques to capitalize on fears about President Barack Obama's economic policies. Not so coincidentally, Goldline advertises on shows including Glenn Beck, Mark Levin, Laura Ingraham and Fred Thompson - all of them politically opposed to the agenda of Obama and Weiner himself.
