1300 is not a freak of happenstance. Its called the Central Banks all over the world printing money out of thin air and causing all commodities to soar. The central banks took on all the toxic assets of all the bad lending practices and derivative gambling by all the largest financial institutions. The Federal Reserve being by far the worst offender. Some estimate 14 trillion. We can't find out since the Senate blocked Ron Pauls bill to audit the fed which passed in the House. The Senators as a whole are more corrupt and controlled by the special interests that got them in power. Gold is now the Worlds reserve currency which has replaced the US dollar which had a great run from the Bretton Woods agreement in the late 40's after World War 11. Nixon taking us off the gold standard becuse of all the European redemptions was the start of debasement and only increses exponentialy as of late. As Ron Paul has stated who is very bright when it comes to monetary policy. I am surprised they have been able to keep it togather this long. He has been trying to get congress to approve an Audit of Fort Knox. Why has their been no audit in multiple decades. Because the peoples gold has been siphoned off or stolen. I heard a lot was taken unber the Clinton,Larry Summers,Greenspan, Rom Emanuel regime. Why does gold have such intrinsic value.
Because of its 2000 plus year history as sound money, its rarity, and that it can't be counterfitted by the Banks or Central Banks worldwide.
As the US dollar loses its world reserve status gold is the only place to go.
