We already know gold is good – but what’s so great about frankincense and myrrh?
“They presented unto him gifts; gold, and frankincense, and myrrh.” We’re all familiar with the story of those three treasures. Gold we know. But what are frankincense, and myrrh? Simply put - they are gum resins made from tree sap. It’s the alluring fragrance that makes them interesting.
With financial markets in disarray and the US suffering from a debt downgrade, investors turned to precious metals for a safe-haven asset.
Gold futures soared to an all-time high of $1,718.20 per ounce Monday at the Comex division of the New York Mercantile Exchange after rising three percent in morning trading.