Saturday, April 27, 2013

The Last Time Gold Dropped This Much

The Last Time Gold Dropped This Much
goldsilver.com / April 26, 2013
As recently as April 15th of this year, gold plunged $144 an ounce in Its “biggest two-day decline since 1983,” totaling a 14.9% drop in price. However, the speed of gold’s most recent price drop is not rare. As Dr. Ron Paul explained on Bloomberg, “in the 1970′s… it went from $35 to $200 rather rapidly, and then it lost 50%. Then it went up to $800.” Paul continued:
“To compare a couple of months or a couple of weeks and forget about a bull market in gold price in relationship to the dollar for 12 years. I would say the comparison is not an authentic comparison. What you have to look at is the inflation. Inflation is an increased supply of money [currency].”
The last time gold dropped this much, Seeing “disorderly, hurried selling in the past five years,” it was July 2008. Gold quickly dropped 21%, and the Price collapse “sent a ripple of alarm through the investment world.”
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