This time, let's take a look at history, from which date gold has been freely traded, and for most long-term calculations and charts with the price of gold, it starts in the 1970s.
It is related to the politically agreed system Bretton Woodsbut the difference between the end of the Brettonwood system a skute�n� voln�m obchodov�n�m gold.
Stru�n� �asov� osa:
1944 � agreed Bretton Woods
Gold there was no free trade.
Currencies were pegged to the dollar and the dollar was fixedly exchangeable for gold v pom�ru $35 per troy ounce.
In fact, they mainly traded gold among themselves central banknot the market.
August 15, 1971 � �Nixon�in �ok�
USA abolished the convertibility of the dollar for gold.
T�m in fact skon�il Brettonwoodsk� syst�m.
The price of gold has started uvol�ovatbut it is not fully global and uniform.
1971�1973
Postupn� p�echod k plovouc�m m�nov�m kurz�m a the market price of gold.
In the year 1973 is generally considered gold for free of dust.
December 31, 1974 (US)
From this date, the Americans could him buy and trade legallywhich sent the global market significantly higher. D�le�it� detail: in the USA it was until then, it was forbidden for citizens to own investment gold.
Shrnut�:
👉 Gold became freely traded after the collapse of the Bretton Woods system in 1971-1973the almost full global and retail market developed especially after 1974.
1️⃣ Gold after Bretton Woods = end of currency anchor
Up to a year 1971: dollar = gold ($35/oz) hundreds were in their monetary policy disciplined with lots of gold
inflation was at a long-term low After a year 1971: there are many fiat (covered only by a door) hundreds can print money without a hard limit
zlato se st�v� independent of the value
📌 Gold ceased to be a price – it became an independent currency in itself – a barometer of monetary confidence.
2️⃣ Inflation of the 70s: the first �test� of free gold
After release:
Gold price:
This was not «the rise in the value of gold'' but:
🔥 decline in the purchasing power of the dollar
When� Volcker (Fed) raised rates above 15%: ➡️ Gold does not cause inflation in itself, but the loss of control over inflation.
3️⃣ Relationship between gold and dollar (key mechanism)
General rule: 📉 weak� dolar → strong� zlato
📈 siln� dolar → weak�� zlato
Reason: gold is valued in USD equals an alternative to holding money
Kdy�:
4️⃣ Current situation (post-2008 & post-COVID)
After a year 2008: QE (quantitative easing) massive debt growth negative real rates After 2020: the fastest growth of money supply in the history of inflation 2021-2023
gold surpassed historical highs
📌 New element: ➡️ This is structural, not speculative demand.
5️⃣ Why gold still «works'' after 50 years
Gold: no counterparty risk (cannot go bankrupt) cannot be «printed'' across all currency regimes Historically:
protection of purchasing power over the horizon of tens of years
ne nutn� nejlep�� v�nos, ale system fuse
6️⃣ Jednoduch� shrnut�
Bretton Woods fell → money lost its anchor
gold happened a measure of value
whenever the system doesn't work, gold responds by rising today we are not in a cycle, but in dluhov� f�zi v�voje m�nov�-politick�ho syst�mu
How is Goldy recommended?
Predicting the future development of the price of gold is the business of speculators. For a conservative investor and user of the common stock, it is important to know the overall trend.
From Golda's trigger On December 8, 2022, the client's deposits were valued o v�ce ne� 100%. Long-term average return since the release of gold prices August 15, 1971 �other� 8,5% ro�n�. Growth is accelerating and in the last 20 years it has been average 10% ro�n�, za posledn�ch 10 let 12,5% and for the last 5 years even 15% ro�n� They are bringing in nothing. You always need to start s kol�s�n�m around this average. Purchase of additional gold as a stabilizing and protective element for other components of the portfolio. Physically, honey is like that, unlike other investments, always exempt from taxesso you don't have to keep such a large reserve on the total cost. This leads to two main approaches to saving at Goldy: a) save money at the time when there is a surplus on the property/common property and thereby maximizing the average yield
b) spo�it pr�b�n� v m�s��n�ch ��stk�ch po dlouh� obdob� a thereby limiting fluctuations in valuation
In both cases, it is pointless to follow the current price of gold, because that information reflects the daily situation on the market, and no one can predict with certainty whether it will rise or fall in the near future. Use Gold as a suitable alternative to the common bath and a supplement to the investment portfolio.
Richard Vrdlovec is the founder of the better social company GOLDA.IO and the investment director of the Investment Fund Sources: x.com/capconcz; fb.com/capconcz; instagram.com/golda.io; messages.golda.io
GOLDA.IO GOLDA is an application for saving in gold.
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