Loan Modification

Gold?s next hurdle is 1980?s inflation-adjusted peak

By Implode-Explode Heavy Industries

Gold hit a record high of $875 an ounce on Nymex in January 1980, about two months after the start of the Iran hostages crisis and less than a month after the Soviet Union invasion of Afghanistan. That?s equivalent to about $2,318.84 an ounce in today?s dollars.

Kind of hilarious that they use $1800/oz on the chart but then $2318/oz in the article. Of course, official statistics-debunker John Williams would say gold needs to best a dollar value more like $7000/oz to truly be in "record" territory.

Full post as published by Mortgage Lender Implode-o-Meter on September 25, 2010 (boomark / email).