黄金的价格历史

黄金

1929～1935 暴涨 1935～1970 下跌。二战期间黄金也没有涨价。 1970～1980 暴涨 1980～2000 20年的熊市 2000～ 慢牛

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

The drop in gold prices from 1980 until 2000 can be attributed to several factors:

1. Economic Stability: During the 1980s and 1990s, the global economy experienced relative stability and low inflation rates. This reduced the demand for gold as a safe-haven asset, as investors were more confident in other investment opportunities.

2. Interest Rates: High interest rates in the 1980s and early 1990s made alternative investments, such as bonds and stocks, more attractive compared to gold. Higher interest rates increase the opportunity cost of holding non-interest-bearing assets like gold.

3. Central Bank Policies: Central banks, particularly in developed countries, reduced their gold reserves during this period. This increased the supply of gold in the market, putting downward pressure on prices.

4. Strengthening US Dollar: The US dollar strengthened against other major currencies during this period. Since gold is priced in US dollars, a stronger dollar makes gold relatively more expensive for buyers using other currencies, reducing demand.

5. Speculative Selling: In the early 1980s, there was a significant amount of speculative buying in gold, driven by fears of inflation and geopolitical tensions. As these concerns subsided, many speculators sold their gold holdings, leading to a decline in prices.

It's important to note that these factors are not exhaustive, and other geopolitical and economic events also influenced gold prices during this period.

During World War II, gold did not experience a significant increase in price due to several factors:

1. Government Intervention: Many governments, including the major belligerent nations, implemented strict controls on the gold market during the war. They imposed regulations and restrictions on the buying, selling, and ownership of gold. These measures were aimed at stabilizing currencies and preventing excessive speculation.

2. Fixed Exchange Rates: During the war, many countries maintained fixed exchange rates, which limited the flexibility of gold prices. Governments intervened in the foreign exchange markets to maintain these fixed rates, which indirectly affected the price of gold.

3. War Economy: The focus of governments during World War II was on financing the war effort. Resources were directed towards military production, and there was a high demand for war-related goods and services. This diverted attention and resources away from gold as an investment asset.

4. Inflation Controls: Governments implemented various measures to control inflation during the war. Price controls, rationing, and other economic policies were put in place to manage the cost of living. These measures helped to stabilize prices, including the price of gold.

5. Confidence in Fiat Currencies: Despite the disruptions caused by the war, there was generally a high level of confidence in fiat currencies, which are not backed by gold or any other physical asset. Governments were able to maintain the value of their currencies through various means, including monetary policies and borrowing.

It's important to note that while gold did not experience a significant increase in price during World War II, it still played a role as a store of value and a means of preserving wealth for individuals and governments. However, the factors mentioned above contributed to the relatively stable price of gold during that period.