Is the History of Gold About to Repeat Itself?

A professional analyst and commentator, Kim Iskyan, has recently written why he believes a 500% gain in gold prices is possible. To illustrate his point, he compares the current economic environment for gold to that of the 1970s, when gold soared from $35 per ounce to $850. Investors looking to protect their retirement assets and earn impressive gains would be advised to give careful thought to his argument.
 
During those ten years, the stock market proved itself unreliable. We had high inflation, a weak dollar, political upheaval, and an oil scare. As they do now, investors had good reason to worry. Understandably, they flocked to gold to protect their personal wealth. By the end of the seventies, they saw gold skyrocket.
 
Iskyan sees a great deal of the financial dynamics of that decade in our current economy. First of all, we have what he calls “a crisis of confidence” and just as U.S. citizens back then drove investors to favor Ronald Reagan over incumbent President Jimmy Carter when he vowed to “make America great” again, many are now supporting current Republican presidential candidate Donald Trump for the same reason.
 
Iskayan cites ineffective central bank policy as another common element in the economy of the nineteen seventies and our current economy. During the early 1970s, when unemployment rose, and at a time when President Nixon authorized the United States to abandon the gold standard, the Fed made the decision to print money. But that strategy didn’t work then. And it hasn’t worked now.
 
In the 70′s, though, the nation had to endure a period of inflation, whereas we’re currently experiencing a deflationary economy, as are most of the other world’s economies.
 
The printing of additional money did nothing to create jobs then nor has it done so in our recent economic crisis. In both cases, the practice has served only to debase and thereby undermine public confidence in our currency. As such, it helped create a fertile investing climate for gold.
 
Iskyan also sees a parallel between the price movement of gold in the 70s and now. In 1971, gold dropped to a low of $35 dollars per ounce. By 1974, the shiny metal topped at $180 per ounce, then corrected to around 40% by August, 1976, soared once more to its previous high, and then on to $850 per ounce.
 
Iskyan sees a similar pattern in gold’s end to a four-year correction just last year when its price plummeted from $1,888 per ounce to $1,056 per ounce. If he’s correct in his discernment of a pattern here, gold could reach $6,800 per ounce within three to four years.
 
Now look at your own portfolio. Can you honestly say you now own a stock with this kind of upside potential in the next three to four years?
 
Isn’t it time to think seriously about building your personal wealth?
 
For more information, call 800-777-6177 now, and ask to speak to a Fortress Gold Group representative.

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