I was just doing some research on the historic price of gold, I see that in the 1980's gold was 600-700 USD, this is what we have today.
Then looking at the recession, unemployment went up in 1980, inflation went up, key industries such as housing and automotive had a downturn, banks failed, it lasted for years and we can say that in 1983 everything started to recover.
After this, so, from 1985 until 2005 gold was at 300 to 400 USD.
Doesn't the 1980s recession look very similar to this one? I know everyone is saying that gold will double soon, but what about a scenario like the one in the 1980s were gold shot up and then came back down after the recession? I'm not asking anyone to look into the future and tell me the price of gold
but what is different with this recession compared to the 1980s one?
Is it the new world economy which didn't exist back then? Is it that they are printing so many USD that it will become worthless in the future?
any thoughts are appriciated