Fordster ;Yes in 1980 they were forced to raise interest rates to that level to rein in the problem with inflation . This is exactly why the US and world Governments have cranked up interest rates like we haven't seen in probably 20+ years . 8 months ago you could get a mortgage for 2% maybe 2.5% for a five year mortgage. Now they just hit 7% in the US . That is BIGTIME. Now the problem with the whole thing is they don't know how far they're going to have to raise them to get inflation under control. Now if they stop raising rates and inflation gets worse gold will start to move up !! As long as the Governments around the world keep raising rates gold will continue to fall . From what I've been reading ( which is a lot ) Governments are hoping that they've raised them enough to at least pause and wait for the leading indicators to tell us whether inflation is starting to cool down. Countries around the world have raised interest rates so fast that they're pushing the glide into recession ! The minute the Governments admit that they're not going to raise interest rates any more gold will start to rise ! Which is why I just put an order in for 20 thous shares of TUD . If gold breaks threw $1,770 through the night I'm going to have my order filled at 9:30am . Cheers