Jackie Farwell of the Associated Press reports that today, gold swooped past its all-time record price of $875 set in 1980 and at one point hit $884 an ounce. It finally settled at $880.30.
Adjusted for inflation, though, gold is nowhere near its all-time high. An ounce of gold at $875 in 1980 would be worth $2,115 to $2,200 in today’s dollars. Ouch.
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For disclosure, some of Tom Lydon’s clients own GDX.
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