| Many parallels have been drawn between current moves in gold and the events of 1971 to 1980.But, the World Gold Council argues, this recurring comparison is, “a simplistic and flawed parallel”.In the latest edition of its Gold Investor publication, the WGC says the two periods are characterized by different price performance and remarkably dissimilar fundamental drivers.
During the 1970s, the advent of fiat currencies made gold a free-floating market while private gold ownership was once again permitted in the US. During that decade, oil prices spiked and tensions in the Middle East rose, leading to hyperinflation and instability...............................................Full Article: Source
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