LOL! Trying to show the value of gold over US currency by posting a plot of USD/oz vs year isn’t logical. Gold is simply an object subject to demand. It is not currency anymore than gravel is. They are both trade items. Your valuation is given in dollars, because otherwise you’d have no unit to value it in, other than tons of gravel, ect..., which also have an equivalent dollar measure.
The gold folks here though, might point out that the value of gold cannot only be explained by currency. It has far exceeded that exchange.
But, I’d suggest that what gold is doing, is based a whole bunch on demand outracing supply, due to a number of factors. I’d assume speculators are turning towards it, investors for the long haul, and maybe even large investments by foreign govts as a way to invest their current windfall, especially some of the in favor emerging markets?
Believe that at your own peril. No skin off my back
Another enlightened one. Which is exactly why FDR made the following rather extraordinary decree in 1933.
“I, as President do declare that the national emergency still exists; that the continued private hoarding of gravel and bricks by subjects of the United States poses a grave threat to peace, equal justice, and well-being of the United States; and that appropriate measures must be taken immediately to protect the interest of our people. Therefore, pursuant to the above authority, I hereby proclaim that such gravel and brick holdings are prohibited, and that all such coin, bullion or other possessions of gravel and bricks be tendered within fourteen days to agents of the Government of the United States for compensation at the official price, in the legal tender of the Government. All safe deposit boxes in banks or financial institutions have been sealed pending action in the due course of the law. All sales or purchases or movements of such gravel and bricks within the borders of the Untied States and its territories, and all foreign exchange transactions or movements of such rocks across the border are hereby prohibited...” - Proclamation by President Franklin D. Roosevelt, April 5, 1933