Saturday, July 13, 2013
Gold Crash Comparison: 1978 vs 2013 - Will The Outcome Be The Same?
Published on Jul 8, 2013
An excerpt from a news article in 1978 calling the end of the gold market after a 50% correction. Shortly after, gold rallied from $100 to $800. http://DailySilverUpdate.com
Excerpt from article:
"Two years ago gold bugs ran wild as the price of gold rose nearly six times. But since cresting two years ago it has steadily declined, almost by half, putting the gold bugs in flight. The most recent advisory from a leading Wall Street firm suggests that the price will continue to drift downward, and may ultimately settle 40% below current levels.
The rout says a lot about consumer confidence in the worldwide recovery. The sharply reduced rates of inflation combined with resurgence of other, more economically productive investments, such as stocks, real estate, and bank savings have combined to eliminate gold's allure.
Although the American economy has reduced its rapid rate of recovery, it is still on a firm expansionary course. The fear that dominated two years ago has largely vanished, replaced by a recovery that has turned the gold speculators' dreams into a nightmare."
Find more price forecasts by Jim Rogers, Peter Schiff, Marc Faber, Max Keiser, Gerald Celente, David Morgan, Bill Murphy, Andy Hoffman, James Rickards and Eric Sprott here:
Publish date: 08/07/13