The gold price today at around $1000 is not a very high price compared to its previous all time real value high on 21 January, 1980. Imagine the psychological effect if the price must go up to its real value price in 1980.
US CPI
Jan 1980 77.8 Gold Price $850
Jul 2009 215.351 Inflation adjusted $2352
A $1000 gold price today (July 09 CPI) is equivalent to $361 in Jan 1980 or only 42% of the top real value price.
Kindest regards,
Nicolaas Smith
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