[johnohara]

The price of gold fluctuated significantly in 1979 due to concerns over whether inflation could be brought under control. It started the year at ~$250.00 per ounce and ended the year at ~$850.00 per ounce.

It was a presidential election year and consumers were getting squeezed hard by rising energy prices. Russia invaded Afghanistan, Carter suspended participation in the Olympics, and there was a general feeling of concern.

Using Wolfram Alpha to compute gold's price in 1979 relative to 2025, "850.00 1979 dollars in 2025", the result is $3,663.84

Gold closed today at $3,858.60.

Just like 1979, 2025 has a long list of international concerns making investors nervous.

[paulpauper]

Yes, adjusted for inflation, gold has done much worse than the media hype would suggest.

[eadmund]

Of course, adjusted for inflation the dollar has done much, much worse than gold!

Not that one should put all of one’s portfolio into gold. That would be pretty insane. But a certain fixed allocation within a balanced portfolio? I think that makes sense.

[mettamage]

Fun take. True as well. Fiat money is very weak against inflation.

[defrost]

Regardless, it's been a good winter trawling for nuggets on the W.Australian goldfields, not for much longer now the sun is starting to bite.