No, it was around $320 an ounce when my father made the investment in gold. I remember the prices when he was buying.
My timing may be off.
Still, over a 30 year period, gold performs much worse than equities. Other FREEPERS are correct, gold as a metal, is not a "growth" investment. It is in a classical sense, GOLD is a storage of value. To make money in gold, timing is everything. IMHO, gold is in funck as investors flock to dollars out of EUROs and BRIC currencies. In other word, the FED has an easy money policy, true, but sense other countries are worse, the USD is picking up. We are the leader of a weak division.