Economy

Gold price rising from fear of big government, inflation

Gold coins. Gold bars. Gold stocks. Gold funds.

Americans have gold fever.

They caught it big time last fall, when the financial system teetered and the recession seemed to flirt with tipping into depression.

The fever drove the price of the hot metal above $900 an ounce, double what it was in 2005.

This summer, with fears of big government and worries about inflation, the gold market showed no signs of cooling.

Even the unknown drives our desire for gold.

Kansas City area lawyer Paul Munyan likes to speculate in gold mining stocks. But he bought South African gold coins called Krugerrands some time ago and stashed them away.

"The coins really are just a hedge against the unthinkable, which is something really, really, really bad," Munyan said. "Gold is one of the ultimate safety hedges for your money."

Read the complete story at kansascity.com

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