"What was gold's price action leading into and during the 1987 stock market crash?
1987 Stock Market Crash - In the months leading up to the crash, gold prices were relatively stable, trading between $398 and $403 per ounce in January 1987. However, as the stock market began to decline, gold prices surged, reaching as high as $481.60 per ounce in October 1987. This represents a significant increase of around 20% in just a few months ². It's worth noting that gold's price action during these periods was influenced by various factors, including inflation, interest rates, and geopolitical events. However, in both cases, gold seemed to benefit from the uncertainty and instability surrounding the stock market crashes.
During the 1987 stock market crash, gold's price action was quite volatile from Thursday to Tuesday. On Thursday, October 15, 1987, gold prices surged $19.90, or 4.2%, to a high of $491.50 as investors sought safe-haven assets amidst the stock market turmoil ¹. However, gold prices then declined, and by Tuesday, October 20, 1987, they had dropped to around $479.50 per ounce ². This price action reflects the uncertainty and market instability during that period.
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I see that gold, with TODAY'S RALLY, has nearly completed a 20% rally off the Nov 14, 2024 low of 2536. Where do you have gold headed s-t? |
