The London PM gold fix soared 437% between 1970 and 1978 using average prices.
Gold is up about 60% since Powell became Fed Chair in February 2018. Gold has risen from about $1333 to $2142 on an average basis.
Gold hits fifth record high in March on Fed rate-cut view :
Gold prices on Thursday hit record highs for the fifth time this month after the U.S. Federal Reserve signaled it would press ahead with three rate cuts in 2024 despite elevated inflation.
Spot gold was up 1.1% at $2,209.65 per ounce at after hitting an all-time high of $2,222.39 earlier in the session. U.S. gold futures soared 2.4% to $2,212.40. ...
Despite recent high inflation readings, Fed chair Jerome Powell said the U.S. central bank is still likely to reduce interest rates by three-quarters of a percentage point by the end of 2024, but that it also depends on further economic data. ...
Lower interest rates decrease the opportunity cost of holding non-yielding bullion . . ..
