Agus Nizami
The value of Gold compare with other commodities such as oil remain stable:http://en.wikipedia.org/wiki/History_of_the_United_States_dollar - Consequently, the price of gold rose from $35 per troy ounce (1.125 $/g) in 1969 to almost $500 (...29 $/g) in 1980.This graph shows the final closing value of the U.S. dollar for each calendar year. Value is measured in milligrams of gold. By this measure the U.S. dollar lost a great amount of value during the 1970s.
Shortly after the gold price started its ascent in the early 1970s, the price of other commodities such as oil also began to rise. While commodity prices became more volatile, the average exchange rate between oil and gold remained much the same in the 1990s as it had been in the 1960s, 1970s and 1980s.
Shortly after the gold price started its ascent in the early 1970s, the price of other commodities such as oil also began to rise. While commodity prices became more volatile, the average exchange rate between oil and gold remained much the same in the 1990s as it had been in the 1960s, 1970s and 1980s.
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