Wow, an FR post from 10 years ago with its comments.
This really takes me back.
Historical Gold prices:
2021 $1,797.75 $1,946.60 $1,954.40 $1,678.00 $1,768.30 -6.69%
2020 $1,773.73 $1,520.55 $2,058.40 $1,472.35 $1,895.10 24.43%
2019 $1,393.34 $1,287.20 $1,542.60 $1,270.05 $1,523.00 18.83%
2018 $1,268.93 $1,312.80 $1,360.25 $1,176.70 $1,281.65 -1.15%
2017 $1,260.39 $1,162.00 $1,351.20 $1,162.00 $1,296.50 12.57%
2016 $1,251.92 $1,075.20 $1,372.60 $1,073.60 $1,151.70 8.63%
2015 $1,158.86 $1,184.25 $1,298.00 $1,049.60 $1,060.20 -11.59%
2014 $1,266.06 $1,219.75 $1,379.00 $1,144.50 $1,199.25 -0.19%
2013 $1,409.51 $1,681.50 $1,692.50 $1,192.75 $1,201.50 -27.79%
That’s because the gold and silver markets are held down by the banks. They stated in 1971 that volatility would keep the U.S. public from investing in gold.
At that time, IMO, it was just a commentary on human psychology. Lately that concept has been weaponized to protect the dollar.
Question is, how long can you hold that beach ball under water?
When she pops, it will be a Doozy, and gold will reflect the dollar’s loss of buying power since Nixon cut the gold backing of the dollar - now at 97%.