Fears of economic collapse drove gold investment and prices to incredible highs over the last several years. The rate of growth from 1999 to 2011 made some people believe the price of gold would climb forever. However, the recent decline has been so swift that some Wall Street analysts are declaring "the end of a golden age of gold . . . the last time the metal went through a patch like this, in the 1980s, its price took 30 years to recover."
God, what is our incredible fascination with gold? What is its allure? We read in Exodus 32 that when Moses was away, your people became afraid and they turned to gold. They used it to fashion an idol because they feared you had left them.
Now we think we are far too modern, too savvy to put our faith in idols. Yet, we put our faith in a housing bubble we are convinced will never burst, we put our faith in financial institutions whose primary goal is to generate profits for themselves, and when everything seems to be crashing down around us and we don't know where else to turn…we turn to gold because we fear that you may have left us.
God of Christ Jesus, free us from the meaninglessness of trying to find security by hoarding things that ultimately have no value. Give us a faith that recognizes we are all together and frees us to share what we have. Give us faith in you. Amen.
Gold, Long a Secure Investment, Loses its Luster