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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (14761)	2/10/2002 11:14:13 PM
From: AC Flyer	Read Replies (2) \| Respond to of 74559

David: >>Were gold prices strongly correlated to production costs in 1980?<< I doubt it. I remember the 1980 price spike. I talked my girlfriend at the time into selling some gold sovereigns. She got top dollar but was pissed off later because she really did not think of them as money, more as trophies. I take your point, of course. That some exogenous event will cause the POG to break free of its relationship to production cost. I don't really know what caused the 1980 price spike. Understanding this is the key to understanding whether it will happen again in some predictable way. What are your thoughts?