As gold’s rally stretches far into its second year, comparisons with the yellow metal’s 1980s peak are increasingly common. The legendary surge throughout the 70s is a common parallel drawn to highlight the metal’s current momentum. While recognizing the connections to that era, HSBC’s Chief Precious Metals Analyst advises against drawing a direct comparison. According to James Steel, gold’s current rise rests on more reliable foundations than the stagflation-era boom. More pointedly, the bank argues that, unlike the 70s surge, today’s rally is built to endure rather than collapse, with conditions in place for ... (full story)