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

To: Ilaine who wrote (15468)	2/23/2002 2:32:06 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 74559

CB - Well, were the prices in gold or in dollars? Dollars. Over your chart period, U.S. gold was at $20.67/oz. before 1934 and $35/oz. thereafter. Jastram had three charts and tables for both England and the US over essentially their entire history. Gold price, Wholesale Commodity prices, and Purchasing Power of Gold. Summary - Gold poor hedge against either major inflation periods (>21 years) or yr/yr inflation. Over 50 year intervals, commodity prices always came back to gold, at least before 1976. Gold appreciates in purchasing power during major deflations, but may be dependent on government willingness to fix the price of gold. Regards, Don