Global Financial Crisis 10 Years On: Gold Price Rise Over 100%

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Global Financial Crisis 10 Years On: Gold Price Rise Over 100%

– Gold price up over 100% in major currencies since financial crisis
– Gold up 100% in dollars, 124% in euros and surged 200% in sterling 
– Gold has outperformed equity, bonds and most assets
– Gold remains an important safe-haven in long term

Gold prices from August 9th 2007  to August 9th 2017

It has been ten years since the global financial crisis began to take hold. At the time few would have known that BNP Paribas' decision to freeze three hedge funds was the signal for the deepest recession in living memory and a near-collapse of the financial system.

As the French bank blamed a “complete evaporation of liquidity” on its decision the ECB flooded its the market with billions of euros of emergency cash as it worked to prevent a seizure in the financial system.

Very few realised how much the financial and investment landscape was set to change.

In the proceeding decade we have seen unprecedented intervention by central banks which in turn has created a punishing financial landscape for savers and investors.

For those who were unfortunate to experience bank bailouts first hand or a collapse in a housing market, an instant lesson was learnt about the importance of protecting your savings.

That would have been a savvy lesson to learn. Any investors feeling the ripples of the financial crisis and looking to protect their wealth may well have looked to gold as an option. By adding gold to their portfolio they would currently be looking at some extremely healthy returns.

For those who were slower on the uptake of portfolio protection, they still would have benefited from gold’s decade climb and its performance alongside other major asset classes.

Gold’s decade long climb

Gold continues to be dismissed by the mainstream as an important asset-class for investors. However the decade long-climb for the precious metal is example enough of it’s strong performance against a backdrop of financial and political turmoil.

 

The yellow metal has outperformed a number of key assets and is up at least 100% in major currencies.

Gold price up by over 100% in major currencies

Gold priced in sterling, euro and (US) dollar is up by at least 100%.

In contrast many major asset classes have not performed to the same extent, or met expectations.

For example, MSCI’s main world equity index might currently be on course for its longest monthly winning streak since 2003, but this is only 22% above levels in 2007.

CLICK HERE FOR FULL ARTICLE - Global Financial Crisis 10 Years On: Gold rises 100% from $650 to $1,300

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BobEore's picture

Summer being the traditional "silly season" in the goldbug world, where each and every "hexpert" peers deeply into their palandir to extract the maximal amount of SKEWERED DATA - or alternatively - plus plain ol bullshit,*

we would expect the GOLDCORE department to weigh in with a suitable contribution. No disappoints... they have

delivered, in the finest tradition... of selecting suitable time frames upon which to construct a suitably shaky LEGO-like structure of confirmation bias, enticing to those caught in a hell of their own making, forever prayerful of release...

not so reassuring to those still possessed of a modicum of wits - and powder left to employ them with! Has gold performed well, over the ten years since Paulson & Co. conducted their successful political coup against the formerly mighty USA? Of course it has. Were 99.1% of the punters here today holding shiny lucky or prescient enough to have been doing so in 2008? Of course they were not.(pls walk, do not run, to deliver your testimonial as to how you have been a holder since - fill in blanks here......)we know these folk exist. Those who have not expired in the meanwhile, (like the dude who used to rag on me for challenging his witless cultism and fascistic approach to dialogue mongst golden holders... and literally kicked off choking on his own spittle and venom) and still hold their gold proudly... I salute thee!

Most of us, however, arrived in the second decade of this new millennium, to the conclusion that something stunk up the house. Gold was a potential counter-stroke to the madness of kabbalist crony capitalism gone berserkers. So we bought accordingly.

Some of us are very happy with having done so. Others are very... very... SAD. Others just devote an inordinate amount of their time left on this orb to pretending everything is kool, that being in the hole anywhere froM 25-50% after nearly a decade of waiting for "a coiled spring" to explode is perfectly fine, and appear here and elsewhere on an almost daily basis seeking to inveigle whoever might listen to them, to join their band of miserable bagholders who placed their faith in the special wisdom of the scribal caste whose game of "never been a better time" had got old n caught a cold many years ago.

Now walk... don't run, to your keyboards, gentlemen and hermaphrodites, in order to unleash your hoarded ad homs, witless insults, lame come backs, and spurious defence of the indefensible. Gold has treated me well. Well enough indeed, that I can look at all your serial abuse and ravings with the wry humor and calm that belongs to those few who hoed their own row and left the denizens of GOLDnSILVERBURG to their nightmare land of mistaken calls and blown wads. Too proud to ever listen to other voices, their epitaph suits their demise -

"I was always right - the cartel just refused to acknowledge my genius!"

*doncha bee afread to look up my ALL TIME FAVE guru silly season advisement - July 28, 2014 - "Three Signals For A Huge Silver Spike In 2014" and feast yur tired eyes on the ravings of the guy who gave you the signal to buy... exactly in advance of silvers' biggest drop since the April massacre of the year before!