/biz/ - Business & Finance

I can add China, US, EU, Japan and the UK together to get a proxy for the global M2 supply from 1996.
Replace China with Korea and get one for M2 between 1987-1996.

When comparing the gold price I think an interesting picture emerges.

In the late 80's early 90's there's still decent money printing globally which causes the gold price to move sideways despite the bubble deflating a bit and a rapid increase in mining.
However from 1995 to 2000, M2 expansion significantly decreases (notably in Japan and the EU) and the gold price deteriorates.

The trend change in both metrics (the angle between the trends) are of the same order of magnitude imo