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For context, spot gold prices currently sit at $1,892.89/oz.
This amount matches projections from last year’s report, though if monetary supply growth matches roughly that of the 1970s, then the gold price could hit $8,900/oz.
The authors also argue that this scenario can coexist in a hyperinflationary world where Bitcoin thrives too.
The Golden Decade?
Gold had a remarkable 2020, increasing its value by 24.6% in U.S. dollars and 14.3% in euros. The metal’s price hit all-time highs in a number of currencies, as investors began to anticipate increasing inflation as a result of the global pandemic and the reopening of economies worldwide.
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Golden bulls: Visualizing the price of gold from 1915-2020
Golden bulls: Visualizing the price of gold from 1915-2020
Some people view gold as a relic, a thing of kings, pirates, and myth. It does not produce income, sits in vaults, and adorns the necks and wrists of the wealthy.
But this too is just myth.
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In fact, as a financial asset, gold’s value has shone over time with periods of exceptional performance, one of which may be occurring now.
Today’s infographic comes to us from Sprott Physical Gold Trust and outlines the history of the price of gold from 1915 to 2020 and three bull markets or “Golden bulls” since 1969, using monthly data from the London Bullion Market Association.