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  1. gpHiggsBoson
    1,622 Posts.
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    15/06/24
    21:45
    Post #: 74334071
    A trip down memory lane.. history.

    Gold During The Great Depression

    As most of you know the gold price was fixed during this time, and President Roosevelt nationalized it in 1933. But even though you couldn't directly own gold, investors found a way to capture its upside by owning gold stocks. Gold equities acted as a proxy for bullion during this time and saw huge buy volumes during the Great Depression.

    From 1929 until January 1933, the shares of Homestake Mining, which was the largest gold producer in the United States, shot up an impressive 474%. Meanwhile, Dome Mines, Canada’s largest producer, went up 558%.
    Largest Gold Producers vs. Dow During the Great Depression
    At the same time Dow Jones took a beating, losing a staggering 73% of its value.


    The remarkable performance of the two largest gold stocks serves as a testament to the resilience of gold investments. What's more, both companies not only weathered the Great Depression but thrived, even substantially increasing their dividends. Homestake's dividend increased from $7 to $15 per share, and Dome Mines' dividend climbed from $1 to $1.80.


    Some light reading..

    https://goldsilver.com/blog/surviving-the-crash-of-1929-how-gold-stocks-defied-the-great-depression/
    DEG Price at posting: $1.01 Sentiment: Buy Disclosure: Held
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