Gold bars which additionally called "ingot" are also commonly purchased, traded, and invested upon. What I mean by this is that though we probably are not paying an actual tax we are seeing less value of each dollar in pockets.
The momentum carried up to about 3rd week of January 1980. https://okumchistory.wiki/index.php/Ira_-_Individual_Retirement_Account_Saving_For_Retirement