gold share prices 1978 - 1980

Folks, I hope you find this interesting.

Below is a table of the most prominent gold stocks of the day listed on the Vancouver Stock Exchange (VSE) The table shows their prices at the close of December 1978, in January 1980 when gold peaked, and the highs reached by each company later in 1980.

As some background, gold hit a correction low of US$104 in August 1976. From there gold rose and hit US$240 in November 1978 before correcting sharply and closing at US$150 in December 1978. Gold soared in 1979 and closed at US$420 before spiking at US$880 in January 1980.

Gold then corrected to US$482 in March before rising to US$711 in September. By this point in time sentiment was extremely bullish, with everyone expecting gold to take out the US$880 peak and then onwards and up upwards through US$1000.

This table was obtained from http://www.resourceinvestor.com/News/2005/12/Pages/Gold-Bullion-Takes-Off--When-Will-Gold-Shares.aspx

The issue of course is "When will gold shares peak in this bull market?"

Because many gold shares peaked after gold crashed in January 1980 does not necessarily mean it will happen this time around.

What was more important imo was sentiment - just about everyone was involved in buying gold shares and everyone knew someone who was plus the gold price had been "high" for an extended period of time plus everyone "knew" by September 1980 that gold was once again on its way to making new record highs.