![]() Though gold has been steadily climbing in recent years, platinum and palladium have typically been similarly valuable. Since 2018, gold has been climbing steadily. Palladium stands out as it underwent the greatest price surge with +96.4% in 2010, and three further significant surges between 20. The data compares the price movement of gold alongside other precious metals like palladium, platinum, and silver. ![]() This is one reason why gold is often viewed as a way for people to hedge their bets against inflationary practices, which are typically set in motion by recessions. ![]() ![]() The value also steadily tracked upwards even during the Great Recession from 2007 to 2009. While gold’s value peaked in 1980, it’s been steadily rising in value over the last eight years and has even managed to largely maintain that during the current pandemic. The graph above would also shed light on why gold is so well-trusted. Proponents of keeping the gold standard say it enforces discipline on modern standards of lending since the dollar amount would always have to be linked to real, tangible gold, as opposed to something that could be printed, like paper money. In the U.S., gold’s value was what underpinned currency until the 1930s, when Congress nullified creditors’ rights to receive payment in gold, and the gold standard was effectively lost. Times of U.S economic recessions are highlighted in red - these were in 2001, between 20, and in 2020. The graph shows gold’s value over a period of 28 years (between 19).
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