Loading ...Nov – 1967 Month # 1
Jan – 1980 Month # 147 ( gold price High of some significance )
Nov – 1967 was chosen because of the following
” Then in November 1967, the British pound sterling was devalued from its par value of $2.80 to $2.40.Those holding sterling reserves took a 14.3 percent capital loss in dollar terms.This raised the question of the exchange rate of the other reserve assets:if the dollar was to be devalued with respect to gold, a capital gain in dollar terms could be made by holding gold.Therefore demand for gold rose and, as it did,gold pool sales in the private market to hold down the price were so large that month that the U.S. Air Force madean emergency airlift of gold from Fort Knox to London, andthe floor of the weighing room at the Bank of England collapsed from the accumulated tonnage of gold bars. “
which is from
Then
Jul – 1999 Month # 1 ( gold price Low subsequent to the Jan 1980 price High )
Sep – 2011 Month # 147 ( gold price High of some significance )
This Month
Dec – 2023 Month # 294 ( = 147 + 147 )
Will the gold price High of 4-December-2023 end up being of 147 Month Significance or
will a Higher High be made during the remainder of this Month ?
It doesn’t ( to me ) look good for Higher POG, but, one never knows.
https://stockcharts.com/h-sc/ui?s=$GOLD&p=D&st=2023-11-01&en=2030-04-01&id=p62022656737
Merry Christmas