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<p>[QUOTE=&quot;Cloudsweeper99, post: 75560, member: 3011&quot;]I view this as more of a positive than a negative.&nbsp; How many things can you buy today that cost the same amount of money as they did during the 1970s?&nbsp; Remember, stocks in the summer of 1982 sold for about 80% of the&nbsp; high price that was reached in 1966, about 16 years earlier.&nbsp; Some people were convinced that this was evidence that stocks would never rise.&nbsp; Others saw it as evidence of undervaluation.&nbsp; We all know what happened next [stocks soared, just in case anyone is wondering].&nbsp; This isn&#039;t proof of anything, and gold may or may not go through the roof, but betting against asset inflation has generally been a bad bet over long periods of time.</p><p><br /></p><p>My personal opinion is that gold at $800 in 1980 was very overvalued, and gold at $475 in 2005 is most likely significantly undervalued.&nbsp; If you figure gold should have sold for $400 instead of $800 in 1980, 3% inflation would indicate a current value of $840 per ounce is more appropriate.[/QUOTE]</p><p><br /></p>

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