Nixon suspended the dollar's official convertibility into gold this month 38 years ago, closing the "gold window" on Aug. 15, 1971.

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From 1971 (the year Nixon broke the gold window) through 1974, the annual percentage change on the Consumer Price Index (CPI) increased from 4.4% to 11.0%.

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Indeed, since President Nixon closed the gold window in 1971, the U.S. price level has drifted upward, sometimes rapidly, eroding the purchasing power of the dollar.

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Then he went back to staring out the window at the glittering Gold Coast.

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Metals prices ended mixed during the reporting window of Oct.9, with gold, silver and copper prices down and platinum group metals higher.

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