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The 5 big dumps of gold prices in history, their timing and economic background.
In the early 1980s, gold prices collapsed. From September 1980 to June 1982, in less than two years, gold prices plummeted by 58.2%. The United States began tightening. Inflation was the culprit. After the oil crisis eased, people seemed less eager to hold gold. The gold market thus collapsed.
Not long after, another wave came. From February 1983 to January 1985, it fell by 41.35%. How miserable. At that time, the world economy entered what was called the "Great Moderation." Developed countries saw economic improvement, and risks decreased. Who still needed gold? Gold prices just kept falling.
In the year 1991, the price of gold in Taiwan was about 455 USD per ounce. This price fluctuated with the global market. It seems that the volatility at that time was quite significant, which should be an undeniable stage in the development of the gold market.
In 2008, something went wrong. From March to October, gold prices fell by 29.5%. The subprime mortgage crisis erupted. The European debt crisis followed. Market liquidity was extremely tight. Both gold and silver fell together. The Federal Reserve even raised interest rates, making the situation worse.
A few years later, another cycle came. From September 2012 to November 2015, gold prices fell by 39%. April 12, 2013, was particularly disastrous, with a sharp fall. Money all went to the stock market and real estate. No one wanted to buy gold. Gold prices could only continue to fall.
The decline in 2016 was a bit smaller; from July to December, it only fell by 16.6%. News of possible interest rate hikes in the U.S. has emerged. Global economic growth is rapid. Everyone is selling gold. Prices, of course, fall.
The global economic and political situation has been changing. The gold market is also evolving. What will gold prices be like in the future? Economic policies, inflation levels, and geopolitical risks will determine everything. It's hard to say clearly, but it will definitely be interesting.