Record-high gold prices have been in the news lately, here’s an example of a new story today from Bloomberg titled “Gold Advances to Record for Second Day“:
“Gold for immediate delivery in London rose to an all-time high of $1,462.30.“ The chart above displays real, inflation-adjusted gold prices back to 1970 (data are from Global Financial Data, paid subscription required), and shows that the real price of gold peaked on January 21, 1980 at a closing price of $892.10 per ounce in current dollars, but that’s more than $2,500 per ounce in today’s dollars. Compared to that peak real price, the price of gold today at $1,462.30 per ounce is 42.5% below the 1980 peak.
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