It is time to look again at the long term gold chart. Since the gold standard ended at 1971 gold is not officially backing any national currency. The market reaction to the end of the official gold standard was a ten years bull market rally (wave 1) that took gold from 35$ to ~850$ (2300%) . The gold peak of 1980 followed by a twenty years gold bear market that took the price of gold as low as ~
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