I just re-examined the historical gold price data and discovered that there have been five truly sharp crashes. Each time, it was accompanied by a different economic story, which is quite interesting.

The first incident lasted from the late 1980s to mid-1982. In just about two years, gold hit its bottom with a decline of 58.2%. At that time, the U.S. was trying to control inflation, so demand for gold was suppressed. Additionally, the oil crisis was beginning to subside, so people no longer viewed gold as a safe haven.

The second event occurred from early 1983 to early 1985 and was quite intense, with gold dropping about 41.35% compared to previous levels. During this period, the global economy gradually stabilized, developed countries began to recover, and risks decreased, making gold less attractive.

2008 was another shock. From March to October 2008, gold fell 29.5%. The mortgage crisis and the European debt crisis led to massive capital withdrawals, causing both gold and silver to struggle. Along with that, the Federal Reserve increased interest rates, putting additional pressure on gold.

The fourth decline lasted quite a long time, from 2012 to late 2015, with gold losing up to 39%. Perhaps everyone remembers the 80-ton gold scam back then. After the sharp drop in April 2013, money started flowing heavily into stocks and real estate. The demand for gold investment was clearly insufficient to sustain the price.

The fifth occurred from mid-2016 to the end of that year, with gold decreasing by 16.6%. At that time, investors anticipated the U.S. would raise interest rates, and the global economy was developing rapidly, so people started selling gold to shift into other assets.

I'm wondering whether recent political changes in the U.S. have led to the sixth decline in gold prices. History always repeats itself in its own way.