The History of Gold Prices
Throughout its history, gold has always been a safe place for investors to turn. This is because the value of gold drops far less than other commodities.
Gold is still so incredibly rare. Because it is seen as such a good investment, interest in it heightens at times of political and financial instability and cash for gold prices go up.
The ongoing Eurozone crisis - which has affected Greece and Italy in particular – has pushed prices up again in September 2011. Prices shoot up because demand heightens and people are willing to pay more for gold. This makes it easier for anyone selling gold for cash to get that excellent cash for gold offer.
What have gold prices been like in the last thirty years?
The last thirty years have seen massive changes in the gold price, for a variety of reasons.
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In 1971, in the aftermath of the Vietnam War, gold rose in price when the gold standard was abolished. It shot up even higher in 1974 during the well publicised oil crisis. This was because inflation shot up and gold became increasingly seen as a safe haven for investors.
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In 1980, cash for gold prices per gram skyrocketed to a level that has been reached only once since then, and that was September 2011. The 1980 rise was when the Soviet Union invaded Afghanistan and the political and economic future looked very bleak indeed. Once again, investors sought a safe haven in gold while consumers took advantage and got excellent
cash for gold offers. Demand once again made prices rise to previously unthinkable levels.
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Between 1980 and 1986, cash for gold prices slowly came down as things stabilised and the price of gold lowered. However, the mid-eighties saw them rising once more, when sanctions were placed on South Africa - a major gold exporter.
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1987 saw the return of hyperinflation in the US, which made gold rise more in price.
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Between 1996 and 1999 things were quite stable financially and gold prices slowly fell. Banks started selling off their gold to help pay for charity efforts in Africa and other areas of the developing world.
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However, Hurricane Katrina in 2005 made sure that any security was only temporary. Gold rose to a price high of $536.50 an ounce, the highest since 1980.
What about the 2007/8 credit crunch and the recession?
Since 2007 and the effects of both the credit crunch and the resulting worldwide recession, gold has risen higher and higher in price. This was because, once again, investors sought out gold and bought lots of it in order to protect their money.
In September 2011, the gold price rose to an eye watering $1920 an ounce. However, this is likely to stabilise in the next year or two and then gradually fall back to lower levels.
This is why you should take advantage of the situation at the moment and sell your gold while you can still get spectacular cash for gold payments. Cash for gold prices online could not be higher right now.
Sell your gold for cash to Postgoldforcash.com now and benefit!