The asterisk is to note that this is only true if you don’t take inflation into account. The previous high was $1900 in 2011. Today’s close was $1901.30 (sale price).
Not especially meaningful about what is going to happen. It only shows what people who invest in gold believe is going to happen, which is that more people will become interested in investing in gold.
I just thought it was an interesting milestone.
Interesting. I remember when it hit its peak in 1980 (at a price that would be over $2000 an ounce in today’s dollars)
When I was a kid, gold was 35/oz. Seriously. Of course, gasoline was .20/gal. Minimum wage was $1.10. Gold mining was especially dangerous because of the dinosaurs.
ETA: I put dollar signs in front of the “35” and the “.20” --why did the bot remove them?? The dollar signs SHOW UP in the preview window, but disappear when I save.
ETA #2 test: 35 per ounce, .20 per gallon
ETA #3: I put dollar signs in ETA #2 – I thought maybe the bot didn’t like the slash. But the dollar sign was okay in “$1.10” What’s up with that?
I take this as a sign that investors, or at least those that want exposure to gold prices, are guessing that there will be significant inflation once the economy can start back up because of the amount of money being pumped into it. I can’t imagine that gold has really become so much more valuable for anything that it actually gets used for.
The thing I like most is all the ads on RW TV about how the time to buy gold is when gold’s at an all time high.
Seems backwards to what I know about investing but I’m just a guy on a messageboard, not a rich actor being paid to spout whatever.
Anyone know if the gold GOLD GOLD!!1! advertisements are back on certain radio programs?
Or maybe they never stopped.
Back then, the gold price was set by the government.
Yep, until 1971. It takes a Nixon to go off the gold standard.
As for the previous peak (before 2011) in 1980, I was too young to care back then. I didn’t have any, I didn’t expect to ever get any.
I always like to remind people that the ones telling you to buy gold are selling gold, so what does that tell you?
It is interesting. What was going on in 2011 that drove the price to that level? What happened in the year or two following that?