Quote:
Originally Posted by Ron Bennett
The $800 peak of 1980 would be over $2000 today.Ron
|
You are correct but the spike in 1980 was caused by Nelson & Bunker Hunt. They were buying tons of silver. When they had enough to fill 3 747's they loaded it up and took it to Switzerland to store. They made several trips. Gold, at that time, increased because of the Hunt brothers speculation in precious metals ... specifically silver. Silver peaked around 52 dollars per ounce before the false market crashed. Gold also followed the crash.
But overall since the mid 60's gold has shown a steady increase dollar wise. Much better than silver which isn't even $20 per ounce right now. From that artificial peak gold went from $800 to $1200+ today. Silver went from $52 to a little over $18 today.
I say ... BUY GOLD, PUT IT UP AND FORGET IT FOR 10-30 years. You'll be glad you did. PERIOD.
