This changed everythinng for GOLD in 1971

Today’s Daily Byte

It’s the 8th of April, and we’re seeing a welcome recovery in the markets after the drubbing we took yesterday. It’s been a volatile, violent overnight session for the US markets, but fortunately, they didn’t close too badly. This morning, we saw a gradual rise across most global markets, and I’d say the Indian market has held up reasonably well given the current circumstances.

Looking ahead, April 9th, US time, could bring more clarity on tariffs and their potential impacts. Negotiations are ongoing, with the EU and Japan working hard to come to an agreement. However, the standoff between the US and China remains at an impasse. There’s also the looming possibility that China may undertake significant currency devaluation, which would mark a new chapter in this ongoing trade saga. While I’m hopeful that this marks the end of the recent downturn, it’s still too early to say if the worst is behind us.

Will we fear the crash, or follow history’s lessons?

Reading Time : 4 Minutes

Do you know what happened to GOLD in 1971 ?

In 1971, something very important happened. On August 15th, the US President at that time, Richard Nixon, made a big decision. Until that day, anyone who had US Dollars could exchange them for gold. Countries like France and others trusted the Dollar because they knew they could get gold in return.

The price of gold was fixed at around $42 per ounce. But on that day, Nixon announced that the US would no longer give gold in exchange for dollars. People were told it was a temporary move. But even now, in 2025, that system has never come back. . . . .

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The Momentum Podcast

🚀 The Momentum Podcast - Episode 2 is Live! 🎧

Join Rajnish as he shares his journey from traditional investing to mastering momentum strategies. Hear his insights on real estate vs equities, gold investing, and the key lessons he’s learned along the way

The Gold Mining Price Dynamics

You very well know now that gold is becoming a very important commodity or a reserve that every central government, every institutional holder and even every investor is wanting to have in their portfolio. So whenever we talk about gold and gold reserves, we normally talk about the gold that has already been mined.

For instance, when we say the US has 8,000 tons, that refers to gold already mined and hopefully sitting in Fort Knox. . . . .

Reading Time : 3 Minutes