This chart is all that you need to look at to tell the long term...

This chart is all that you need to look at to tell the long term direction of Gold and why the Gold price crashed after 1980.
In august 1979 Paul Adolph Volcker was apointed chairman of the FED.In March of 1980 inflation hit an all time high of 14.8% by that point Paul Volcker had pushed interest rates to just below 20%.Now the US had real interest rates about 5% above inflation.
So what did most people who held gold at that point do? They sold there gold turned it into cash and put it in the bank along with every one else.
Thats how you stop inflation you give people a reason to keep there new found printed money in the bank.
All the reasons why you should buy Gold are there today
zero interest rates,Helicopter Ben printing money,infation rate above interest rates and a zero interest rate administration who would like to inflate away their debt.

Also my friends and family think I am strange for buying gold that tells me to buy more.