| From Resourceinvestor.com: The gold price has swept past the US $1200 mark - in both directions - so it’s time to check numbers against concepts and patterns. The yellow metal’s modern history began with Western economic expansion in the 19th century.
That outstripped our ability to supply gold equivalent to economic activity, at fixed rates. With currencies delinking from gold by the early 1970s, miners couldn’t supply enough of it at the old fixed rates......................................Full Article: Source
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