Gold Hits Record High, Now Worth Twice Its Weight In Gold

Story by Logan Thompson 

| Published Nov 17, 2009

The value of gold has reached an all-time high. After surpassing the $1,100 an ounce record set a week ago, gold kept rising. Now, it is worth twice its weight in gold.

“It’s sort of preemptive,” said Suki Cooper, a commodities analyst for financial group Barclays Capital. “We could see that the trend wasn’t going to reverse itself for a while, so by skipping a few steps, the market has made everything easier.”

In order to determine the new value of a given amount of gold, specially made scales will be manufactured by the Ohaus Company. The new scales will show weight in ounces, but the numbers will be doubled — "2"s in the place of "1"s, and so on.

For those who want to save money and don’t mind doing math, there is an alternative.
“You can just double the number of ounces a regular scale reads,” Cooper said. "That will give you the same effect."

She went on to explain that if people want the best of both worlds, they can buy the special scale, cut the number of ounces in half and then double it.