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FYI: Ever since those FOMC minutes from the April meeting came out back on 5/18, gold has been in an absolute tailspin. As shown in the chart below, prices have now declined in every session since the release of the minutes. They’re now testing their March lows and are on pace for their lowest close since early February. Regards, Ted https://www.bespokepremium.com/think-big-blog/gold-down-nine-days-in-a-row/
"Didn't gold basically go down about 75% from roughly 1980 to 2001?"
Peaked at $850 in 1980. Slid to around $350 in 1993. In dollar terms (non-inflation adjusted) that's a loss of around 60%. As rjb says, the inflation adjusted loss was much greater.
I bought a little just before the 80s peak and attempted to buy down on the frequent dips for three or four years after. A terrific first lesson in investing. One I won't forget.
Comments
Derf
P.S. Most of the market down at @2:30
Regards,
Ted
I watched it go down for nine years one time.
On an after inflation basis, I think it went down roughly 90% during that time.
Peaked at $850 in 1980. Slid to around $350 in 1993. In dollar terms (non-inflation adjusted) that's a loss of around 60%. As rjb says, the inflation adjusted loss was much greater.
I bought a little just before the 80s peak and attempted to buy down on the frequent dips for three or four years after. A terrific first lesson in investing. One I won't forget.