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# Gold About to Repeat the Carving a Boat to Seek a Sword Story of 1979
Nobody was prepared for what was about to happen.
1979:
Iran War → Oil prices skyrocketed
Gold price surged from approximately $200 to $850
Everyone thought this was just the beginning
Then came the lesser-known part:
The Federal Reserve spiraled out of control
Interest rates skyrocketed to 20%
Liquidity was cut off
Gold price crashed: $850 → $300. Currently, gold has already declined 25% from its high. The 3800/4300 region is holding for now. That daily pin bar is quite vicious. Whether it can stabilize depends on the recent situation.