Gold Price in 2016

We all know that gold prices in US dollars have been in a downtrend for about 4.5 years. We all know that gold prices rise, on average, as the underlying currency declines in value.  Gold in the US was priced under $21 per ounce when the Federal Reserve was established.  Since then the dollar has been devalued and gold has increased in price by a factor of about 50. It is the same story around the world, whether you evaluate in terms of British pounds, euros, rubles, yen, or any other debt based fiat paper currency.

First published here: Gold Price in 2016