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Gold Is About to Repeat the Sword Drawn from the Sheath1979
No one was prepared for what was about to happen.
1979:
Iran War → Oil prices soar
Gold price surged from approximately $200 to $850
Everyone believed this was just the beginning
Then, the lesser-known part happened:
Federal Reserve lost control
Interest rates soared to 20%
Liquidity was cut off
Gold price crashed: $850 → $300, currently gold has fallen 25% from its high, the 3800/4300 area is holding for now, this daily wick is quite severe, whether it can stabilize depends on the recent situation.