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Economic Crises - Gold Timeline

Explore economic crises that impacted gold prices from 1971 to 2024.

Black Monday Stock Market Crash
📉Economic Crisis

Black Monday Stock Market Crash

Global stock markets crashed with the Dow Jones losing 22.6% in a single day - the largest one-day percentage decline in history. The crash was triggered by computerized trading, portfolio insurance strategies, and overvaluation concerns. Gold initially spiked on panic buying, jumping 4.2% to an intraday high of $491.50 on Black Monday itself, though it later retreated. The safe-haven buying was short-lived as forced liquidations hit all assets.

Price Movement

gold:
+4.2%

$491.50/oz (intraday high)

Intraday on Black Monday

View Gold Chart

Sources: SEC Market Analysis, Federal Reserve Reports

Lehman Brothers Collapse & Financial Crisis
📉Economic Crisis

Lehman Brothers Collapse & Financial Crisis

The bankruptcy of Lehman Brothers triggered the worst financial crisis since the Great Depression. Credit markets froze, major banks teetered on collapse, and global stock markets plunged. Initially, gold dipped as investors sold everything for cash, but the subsequent Federal Reserve response - near-zero interest rates and quantitative easing - ignited a massive gold rally. Gold went from $869/oz in September 2008 to $1,900/oz by 2011 as central banks printed trillions.

Price Movement

gold:
+119%

$1,900/oz in 2011

3 years (2008-2011)

silver:
+166%

$48.70/oz in 2011

3 years (2008-2011)

platinum:
-62%

From $2,250/oz to $850/oz

6 months (initial crash)

View Gold Chart

Sources: World Gold Council, Federal Reserve Economic Data

European Sovereign Debt Crisis
📉Economic Crisis

European Sovereign Debt Crisis

Greece's debt crisis spread to Portugal, Ireland, Italy, and Spain (the "PIIGS"), threatening the eurozone's survival. Fears of sovereign defaults and potential euro breakup drove investors to gold as the ultimate safe haven. Gold hit its all-time nominal high of $1,921/oz in September 2011. The crisis lasted years, requiring multiple EU bailouts and ECB intervention through Mario Draghi's famous "whatever it takes" pledge in 2012.

Price Movement

gold:
+28%

$1,921/oz

5 months

View Gold Chart

Sources: European Central Bank, IMF Reports

Inflation Hits 40-Year High
📉Economic Crisis

Inflation Hits 40-Year High

U.S. inflation reached 9.1% year-over-year in June 2022 - the highest since 1981. Driven by pandemic stimulus, supply chain disruptions, and energy shocks from the Ukraine war, inflation forced central banks into aggressive rate hikes. The Federal Reserve raised rates from 0% to 5.5% in just 16 months - the fastest hiking cycle in 40 years. Despite gold's traditional inflation-hedge role, it paradoxically fell as rising real yields made non-yielding gold less attractive. This broke the typical inflation-gold correlation.

Price Movement

gold:
-3%

From $1,850/oz to $1,807/oz

6 months (counterintuitive)

silver:
-17%

From $26.90/oz to $22.35/oz

6 months

View Gold Chart

Sources: Bureau of Labor Statistics, Federal Reserve

Silicon Valley Bank Collapse
📉Economic Crisis

Silicon Valley Bank Collapse

Silicon Valley Bank (SVB), the 16th largest U.S. bank, collapsed in the second-largest bank failure in U.S. history. Signature Bank and First Republic followed within weeks. The crisis stemmed from rapid rate hikes causing bond portfolio losses and deposit flight. Gold surged from $1,810/oz to $2,050/oz in three weeks (+13%) as fears of systemic banking contagion echoed 2008. The crisis forced emergency Fed intervention and temporary suspension of rate hikes.

Price Movement

gold:
+13%

From $1,810/oz to $2,050/oz

3 weeks

View Gold Chart

Sources: FDIC, Federal Reserve, LBMA

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Economic Crises - Gold Price History | goldtrack.io