Gold now at its "normal level" thoughts?

[jewelerdave]

I find it quite interesting that 100 years ago a dollar a day was considered good wages or average for most equivalent minimum wage jobs. Gold at $20 per ounce. 5 Day work week for $20 a month.

I also find it interesting that now an ounce of gold is about $980
And that 40 hours a week at $6 is $240 a week for $960 a month.

Is gold where it should be?

[bradyboy]

Good question -
BUT, I don't thing that looking at gold / silver historically is a good idea.
considering the state of world affairs today don't compare to the past / historical comparison of metals and wages.
I'm a collector of metals, litterally and I'm on a roll
way back when, we didn't have oil issues with other countries, we were not really affected by overseas wars and so on.

[stoney56]

It's just an inflationary scale IMO.
A bit over 100 years ago, a $20 gold piece would buy a new Colt Single Action Revolver, today a $20 gold piece will still buy a new Colt Single Action Revolver.

[lou423]

The thing about gold or silver is they protect you against inflation and devaluation.

[greydigger]

How many loaves of bread for an hours work?
Gallons of milk?
Gallons of GAS?
Sounds relative to me.
Joe