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I was a precious metals trader from the early 1980s until 1997 for one of the world's leading bullion dealers with offices in New York, London, and Hong Kong. For most of that time, the price of the yellow metal traded at between $300 and $400 per ounce. Memories of the 1980 peak at $875 per ounce had faded in the market's collective memory until 2008 when the COMEX futures finally climbed to a new all-time peak.
Gold has not traded below $1000 per ounce in a decade since 2009. The price has not been