InvestorQ : Why is the third gold phase from 2001 to 2011 considered to be important?
Juvina Maggie made post

Why is the third gold phase from 2001 to 2011 considered to be important?

Answer
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Angel dcosta answered.
1 year ago


The price of gold went through a 20-year period of gradual downtrend between 1981 and 2001. Post the technology meltdown in 2000-01 and the 9/11 attacks, gold bottomed out at around the $250 / troy oz mark. The real spurt in gold prices came post 9/11 which once again forced many investors to seek refuge in gold. But the rapid upward movement in gold came post 2008 after the Lehmann crisis. The rally in gold prices began in 2001 at $255 / troy oz and went on to peak in 2011 at $1900 / troy oz. Of course, from 2012 the US dollar has been on an upward move and gold prices have fallen from $1900 / troy oz to below $1100 / troy oz.