[Petronski]

The peak in 1980 was actually $898.


The great shiny storehouse of value is currently ~55% of its all-time high.

[Tijeras_Slim]

The peak in 1980 was actually $898.

Don't remind me. That was the year I bought my class ring.

[Mr. Jeeves]

The great shiny storehouse of value is currently ~55% of its all-time high.

Actually it's even worse - in inflation-adjusted dollars $898 in 1980 is equal to $2,107 today...so gold is still about 75% off of its all-time high.

Which in turn gives it room to run - although if it makes a serious run at $2,000 over the next few years it will be because the US dollar is collapsing. And shortly thereafter, there is a good chance that a man with a gun from the government will show up at your front door and demand that you hand over any $2,000 gold ounces in your possession or he'll give you an ounce of lead in exchange and take it anwyay. So physical gold isn't really a safe storehouse of value, IMHO. ;)

BTW, using the same inflation calculation, the Dow would need to get to around 12,300 to match its Year 2000 all-time high.

[nopardons]

Just keep reminding the goldbuggers here, of that salient fact! :-)

The markets always go up and down; it never has and never shall, just go up. Gold is no exception to this rule.

[Mulder]

The great shiny storehouse of value is currently ~55% of its all-time high.

And what is the value of the dollar relative to it's all time high?