Rahul Gupta (Project Controller ACA MBA(Fin.)) (8019 Points)
12 June 2010What is a gold bug?
a) An investor who is bullish on gold
b) An investor who is bearish on gold
c) A gold-colored mineral that is often mistaken for gold
d) A short story by Edgar Allan Poe
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114225 Points)
Replied 12 June 2010
In terms of investment---(a)
In Litreature---(d)
Akhil Gupta
(Manager F&A)
(856 Points)
Replied 12 June 2010
Definately the answer is (a).
What Does Gold Bug Mean?
An individual who is bullish on gold. Gold bugs believe that gold is still a stable source of wealth like it was during the years of the gold standard international currency system. A gold bug invests in gold for what he or she perceives as financial security in the event of a currency devaluation, and often also believes that the price of gold will continue to rise in the future. The term also refers to analysts who consistently recommend gold buys.
The term was popularized in the 1896 US Presidential Election, when William McKinley supporters took to wearing gold lapel pins, gold neckties, and gold headbands in a demonstration of support for gold against the "silver menace", though the term's original use may have been in Edgar Allan Poe's 1843 story "The Gold-Bug," about a cryptographic treasure map.
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