When you look at the average price of gold over time, there are several interesting trends that emerge. Investors buy gold as a hedge against inflation and, over a very long period of time, that holds up. More often, investors are buying gold as insurance in a crisis; as a safe harbor investment in times of uncertainty. Let’s start by looking at the average price of gold between 1979 and 1989. I’m using average prices to even out the parabolic demand periods which can throw off analysis. The data comes from the World Gold Council. In the late 70s and...