Ex. From June 30, 2004 to June 29, 2006 the Fed hiked the Fed funds rate 425 bps, from 1.0% to 5.25% - Over that same period, gold rose from $392.10 to $599.10, a gain of 52.8% -
From June 30, 1999 to May 16, 2000 the Fed hiked the Fed funds rate 175 bps, from 4.75% to 6.5% - Over that same period, gold rose from $261.25 to $275.30, a gain of 5.4%.
And then perhaps most notably (and obvious):
The Fed began a very aggressive tightening campaign in August of 1977 to reign in the rampant double-digit inflation of the 1970s - Prior to that first rate hike, Fed funds stood at 4.75% and gold was trading in the $130 to $150 range - By March of 1980, the Fed funds rate stood at 20.0% - a rise of an astounding 1,525 bps.
In January of 1980, gold reach an all time high of $850.00 - An equally astounding rise of 507%! -
another significant cycle saw more than 1,000 bps in tightening from the spring of 1972 into the summer of 1974 - Gold nearly tripled in value, from less than $50 - to nearly $140.00.
Sprott is the major shareholder of Drumlummon Gold & Silver Mine - timeline -
1876 — Irish miner Tommy Cruse discovers gold near Marysville and starts tunneling into the hillside. He names the mine Drumlummon after a parish in his homeland.
1883 — Cruse sells the mine to the fabled Rothschild family for $1 million cash and $500,000 in shares. The mine employs 165 men and is 1,600 feet deep.
1892 — A fire breaks out at the 1,200-foot level. They flood it with 5,000 gallons of water to put it out.
1895 — Water starts to be pumped out of the mine so they can drill deeper.
1896 — A cyanide processing plant is built.
1910 — The Drumlummon is shut down after the operators lose a 20-year lawsuit that included five appeals to the U.S. and Montana supreme courts.
1911 — St. Louis Mining and Milling Company, the successful litigant, takes control of the mine and leases out the operations.
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