Considering Gold, 2008 Not Like 1980
By Patrick A. Heller
January 07, 2008
There are significant differences between
the 2008 and 1980 gold markets, however.
" Today's price does not reflect
the effect of 28 years of inflation. Gold's price would
need to be, maybe, $2,300 to equal its 1980 peak.
" The 1980 price spike was sharp and
short-lived. Today's price has been accomplished gradually
with broad worldwide demand in the face of admitted major
efforts by governments to hold down the price.
" Conclusion: the price of gold today
is not yet at record levels. Instead, I expect that within