Gold price is rising?

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It is important to grasp the big picture of why gold is going up and the factors that are fueling its rise. An Overview Since 1974 In 1971 President Richard Nixon ended US dollar convertibility to gold, bringing to an end the central role of gold in world currency systems. Three years later Congress legalized the ownership of gold by US citizens. Freed from the government-mandated price of $35 per ounce, the dollar and gold floated. In 1979 and 1980, investors' lack of confidence in the govern