Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
experience buying and selling
Rare Coin and Precious Metals.
We have the knowledge and
ability to provide our customers
with the best products and services.
Gold Lessons From The 1970s
Gold Lessons From The 1970s
Gold last traded at $1,808 an ounce. Silver at $25.99 an ounce.
NEWS SUMMARY: Precious metals were up Tuesday after consumer prices rose to a 13-year high last month. U.S. stocks fell after a hotter-than-expected inflation report overshadowed a strong start to second-quarter earnings season.
Zero Hedge--"The long-term case for gold remains intact. The ratio of total US M1 (adjusted for the recent savings deposit re-classification) to gold has continued to surge higher, showing the underlying trend remains bullish.
A bullish long-term trend does not mean things move in a straight line. Even the gold bull market during the high inflation of the 1970s saw an extended crash of 40%+ for 1.5 years from 1974/75 and another 20% crash in 1980 that ultimately ended up being a 50% peak to trough drawdown.
In 1975, private US citizens were allowed to start owning gold again in a macro environment of heightened inflation, so one might have expected gold prices to rise from 1975, but the exact opposite happened."
