Tbilisi, Georgia

It was soul singer Edwin Starr who asked (and answered) the following rhetorical poser: “War. What is it good for?”

There’s nothing like a roaring gold price to bring out the forecasters! Investors are scuttling for a refuge from the slumping dollar and surging energy costs. And low and behold, Citibank, Gold Fields and leading US coin dealer Blanchard, to name a few, all see $1,200 gold on the horizon!

It ain’t much fun being a miner in these torrid times. It’s raining supply problems, infrastructure problems and energy costs are rocketing. Time for investors to be really picky!

Prices give the rankings. Diamonds generally come top. Ruby and emerald are also priced higher than a top quality sapphire, due to their rarity. For a one-carat ruby stone the bill is likely to be between $250 and $10,000 per carat. Truly quality gems will cost more.