Gold: The one enduring commodity in times of financial crisis

You may not believe it, but gold has experienced a turbulent past, with one of the most remarkable events being US president Nixon’s announcement of the cancellation of the convertibility between the US dollar and gold. Although this is one of a number of dips within the history of Gold, it has seen far more rises during times of financial crisis than it has dips through political interference. Take for example the economic crisis which began during early 1980, this saw the gold price soar to a staggering $850 per ounce. This spike in pricing was also reflected during the most recent financial crisis, with the precious metal seeing an all-time high of $1800 in 2012.