A “long-held rule in the marketplace” is that an ounce of gold, historically, has been able to buy a decent suit.
That’s what it says on this cute press release I just got from Canadian investment management company, Sionna,
Sionna’s research shows “the cost for an ounce of gold in 1967 was C$35, exactly the same price as a decent suit from Eaton’s, a prominent Canadian retailer at the time. In 1975, gold weighed in at C$100 an ounce, a 1:1 ratio with a decent suit from Eaton’s during the same year. In 2009, the price of an ounce of gold in Canada soared to C$950, or the price of a decent suit at leading tailors during the same 12 months.”
Gold hit $1880 today, so I popped across to English Cut, a blog maintained by Thomas Mahon, an English tailor with a large American clientele. I like Tom becasue he tells great stories, his prices are pretty reasonable, compared with Savile Row, and because I was one of the first people to cover the launch of his blog.
An ounce of gold won’t even get close to a bespoke suit from Mahon (pictured above), who charges GBP2260 ($3616) for a two-piece. An ounce of the yellow stuff won’t even get you a blazer!
Which means you’ll have to go shop off the rack, I’m afraid, old boy!
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
