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Show me another »Why did the gold prices increase after the great depression ?
This is for my history homework. I basicly need help for my south africa coursework. Just need help why gold prices rose after the great depression in 1929 ? I cant find it on the internet , any suggestions need it by tomorrow.
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Anything about gold prices due with great depression - the economy collaspe.
need by tomorrow thanks :D
need by tomorrow thanks :D
2 years ago
Best Answer - Chosen by Asker
Even the U.S. government, which possessed most of the world's gold ($175 million flowed into the U.S. in 1929, and $280 million in 1930)[8] moved to cushion the effects of the Great Depression by raising the official price of gold (from about $20 to $35 per ounce) and thereby substantially raising the equilibrium price level in 1933-4.
http://en.wikipedia.org/wiki/Gold_standa…
http://en.wikipedia.org/wiki/Gold_standa…
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This question about "Why did the gold pri… " was originally asked on Yahoo! Answers United Kingdom
Other Answers (3)
- Gold is a traditional haven in times of trouble. You can see it starting to happen now.
- Gold prices increased because people ran to gold to help them hold on to the value of their savings. Same thing is happening to gold right now.
http://www.goldprice.org/gold-price.html - no idea lol:)
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