How much was an ounce of gold in 1970?

The government price of gold has changed only four times from 1792 to the present day. To determine the true value of gold in US dollars, simply take the total world money supply of the United States and divide it by the number of ounces of gold available for purchase. The price of an ounce of gold remained completely stable and in line with the gold standard at all times. If I am right, gold's upward movements will be less slow and will increasingly resemble the violent rises of the 70s.

This is where gold investors lose touch with economic reality and pursue ever higher prices in a feedback cycle of sky-high prices, “new-age thinking” and greed. As we have repeatedly said, it is prudent to keep gold and gold stocks as part of a diversified portfolio. I have a one-ounce medal from the 1920s. It says: Winners of the Texas League of the Fort Worth Baseball Club, champions of the postseason, league south, Little Rock.

If you don't have gold yet, I advise you to get it before those most volatile peaks begin to materialize. Interactive chart with historical data on the real (inflation-adjusted) prices of gold per ounce up to 1915.In addition, they dismiss “gold fanatics” — investors who believe that gold is the answer to all financial ills and is the key to surviving the impending financial apocalypse (at any time or decade) — considering them a bit far-fetched. The true value of gold (in goods, not paper dollars) has been constant for literally thousands of years. Negative interest rates silence a typical complaint about gold: that it doesn't pay interest or dividends.

If we look only at the US dollar, as Mark O'Byrne of Goldcore observes, gold rose 49.7% against it in 1972.Part. What I was analyzing was the prospect of a gold standard for the US currency, similar to that supported by Ron Paul and other Austrian economists. The following Goldmoney chart shows the annual percentage increase in gold since 2001 in the nine major world currencies.