Other than three days in a row over $ 700 in May 2006b , the only other time gold was at such impressive levels was for six days in January 1980. At that time gold closed above $ 700 for six out of seven consecutive trading days. It was in this earlier streak 27 years ago when gold’s all time closing high was achieved. And in Feb 1980 gold spent more days over $ 700 but they were not contiguous. It a truly rare and lofty level for gold - no matter what traders, gold and currency valuation and trading experts as well as naysayers will say.
At at time point in Febuary 1980, gold spent 2 more days over 700 dollars but they were not contiguous. Hence prior to Bernanke’s decision , gold was already over $ 700 nominal for the longest span ever. In adjusted - inflation adjusted real terms gold’s all time high valued today in 2007 equates to a near high of $ 2300 per ounce. Hence gold is nowhere near a new all time high when placed in current real value terms.
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