"Gold: unstable metal
By Chris Flood, Alistair Gray, Helen Warrell and Steve Bernard
Published: May 6 2009 18:43 | Last updated: May 6 2009 18:43
Bullion prices are famously volatile – they rose dramatically in the 1970s as the US ended restrictions on private gold ownership and fell just as sharply in 1999 on the announcement that the Bank of England was to sell its gold reserves. The current financial crisis has seen further fluctuations as buyers have rushed to acquire gold as a safe haven but also sold the precious metal to cover losses in other markets.
Click on the timeline points below to see which economic and political events have driven the gold price from 1900 to present day, and expand the red shaded area for an in-depth look at gold trading during the recession.
Copyright The Financial Times Limited 2009