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Tuesday, February 05, 2008

Gold chart confusion

Here's a chart of gold against inflation as measured by CPI, from Captain Hook, and it suggests that high as it is now, the price of gold is still below its 1973 - 1997 average:

... and here's another reproduced on the Contrarian Investor's Journal (possibly from TedBits, which I'll come to in a moment), which seems to show the opposite:

... and here's another from Ty Andros's TedBits, comparing gold to gobal financial liquidity:


Which line of reasoning would you support at this time?
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