Cumulative Events Over Time Often Lead To Explosive Moves in Precious Metals.
The Price of Gold Went From $35 an Ounce in 1971 to $800 an Ounce in 1980.
In a Post QE World is History Set to Repeat?
Gold’s Bull Market 1971-1980
It didn’t all happen at once.
In August of 1971, Richard Nixon unilaterally ripped up the Bretton Woods Agreements that allowed foreign central banks to redeem their dollars for gold. As a result of moving off the gold standard, increased deficit spending, oil embargoes, political turmoil (Watergate), geo-political tensions (Cold War, Iran hostage crisis) inflation raged and the price of gold soared.
Gold Price 1970’s – Before Vertical Move
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Gold Price 2000-2017 – Before Vertical Move?
Could a vertical move in gold happen again?
The analogous event for the 2000’s of Nixon’s abandoning the gold standard was the Federal Reserves’institution of quantitative easing in 2009.
For a repeat in the 1979-80 vertical gold price we’d probably have to see another bout of low growth, a replay of low rates too long,(Trump keeps Yellen?) higher inflation due to lower dollar/tariffs, political turmoil and Trump screwing up big time. All possible, but will it lead to a vertical move in gold?
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
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Money Metals Exchange
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BGASC.com
Golden Eagle Coins
JM Bullion
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After the 1970’s Move, What Happened Next?
Gold Price 1979
Gold Price 1980
Gold Price 1981
The Aftermath
Gold Price 1980-1990
Further Reading:
THE PRICE OF SILVER IN 1979 & 1980 VS. 2013 & 2014
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