Gold & Silver Declines are Reminiscent of the 2008 Financial Crisis

By Jay Taylor – Jay Taylor substack

Some investors have been surprised by the decline in the price of gold when the Iranian war seems to promise higher rates of inflation and global uncertainty than any time in recent memory. But as Alasdair Macleod opined in his missive today (published below) this is reminiscent in some ways of the decline gold suffered at the start of the 2008 financial crisis. In March 2008 as the financial crisis was just getting underway, the average price of gold that month was $964.42. But as the markets were melting down, gold did the same. By November the average price of gold for the month fell to $758.04, a 21.4% drop. People were also surprised at gold’s decline then. But from that November low, gold rose 136% by August 2011 to gold outperformed stocks for the next decade!