Old 2008 Article On Gold Price

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In Feb 1966 the Australian dollar(changed from  Pound Shilling and pence) was effectively pegged to the British pound at an equivalent value of approximately 1 gram of gold. The highest valuation of the Australian dollar relative to the U.S. dollar was during the period of the peg to the U.S. dollar. On 9 September 1973, the peg was adjusted to USA $1.4875  It is now Floating or is that Sinking at US$1.4875 it is now USA $0.7647 and got below  USA $0.61 in Aug 1986. As an Aussy a match between Gold Price and Currency has to be balanced to get the right return for our gold.     Below are some key Gold events

In August 1971, USA took the dollar off the gold standard.= one Troy ounce of gold at $35.
In August 1972, USA devalued dollar to $38 per ounce of gold.
In March 1973, Most of the major countries adopted a floating exchange rate system.
Then in May 1973, the USA devalued dollar again, to $42.22 per ounce.
January 1980. Gold hits record high at $850 per ounce. High inflation,  strong oil prices, Afghanistan caused investors to move into the metal.
In August 1999, gold fell to $251.70 central banks reducing gold bullion reserves
In October 1999, gold reached a two-year high at $338 after  15 European central banks to limit the gold sales.
Then in December 2003 to January 2004, gold broke above $400, due to conflict with Iraq.
In November 2005, the spot gold rises hit $502.97 .
April 2006 and gold prices 600 US dollars an ounce, the highest since December 1980
May  2006, gold prices peak at 730 US dollars an ounce This was due to firm oil prices and political tensions over Iran's nuclear ambitions.
June  2006 gold falls 26 percent to $543 from its 26-year peak after investors and speculators went on a flurry of profit taking.
Nov 2007  spot gold peaks at a 28-year high of $845.40 an ounce.
Jan  2008,  gold has breached 900 dollars an ounce and looks set to reach the magical 1000 US dollars per ounce.

July 2017(today) Gold is AUD $1594 or USD $1219 .