Geopolitical Events - Silver Timeline
Explore geopolitical events that impacted silver prices from 1971 to 2024.
Event Type
September 11 Terrorist Attacks
The 9/11 terrorist attacks on New York City and Washington D.C. shocked global markets and triggered immediate safe-haven buying. Gold jumped from $271/oz to $287/oz within days as investors sought security. The attacks led to prolonged geopolitical uncertainty, wars in Afghanistan and Iraq, and a decade-long gold bull market as the "War on Terror" drove deficit spending and monetary expansion.
Price Movement
From $271/oz to $287/oz
1 week
From $4.15/oz to $4.45/oz
1 week
Sources: NYMEX Trading Records, LBMA Price Archives
Brexit Referendum
The United Kingdom voted 52% to 48% to leave the European Union, shocking markets that expected a "Remain" victory. The British pound crashed to 31-year lows, global stocks tumbled, and uncertainty flooded financial markets. Gold surged 8% in two days as investors sought safety from the geopolitical chaos. The vote triggered years of political turmoil and negotiations that kept gold elevated.
Price Movement
From $1,255/oz to $1,357/oz
2 days
From $17.10/oz to $18.75/oz
2 days
Sources: LBMA, Bank of England
Israel-Gaza War Escalation
Palestinian factions launched a surprise attack on Israel on October 7, 2023, triggering the deadliest conflict in the region in decades. Israel responded with a massive military operation in Gaza. The conflict raised fears of broader Middle East instability, with potential involvement of Iran and other regional actors. Gold spiked immediately as investors sought safe-haven assets amid geopolitical uncertainty. The war disrupted regional stability and raised concerns about potential escalation into a wider conflict.
Price Movement
From $1,860/oz to $2,009/oz
2 weeks
From $21.80/oz to $23.10/oz
2 weeks
Sources: Reuters, World Gold Council, Al Jazeera
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