In recent years, the prediction of a specific price of gold has become a real sport – even values up to 5,000 dollars or even 10,000 per ounce were proclaimed. The fact is, price forecasts are crystal-ball gazing. Although trends can be derived, the price of gold is influenced by numerous factors.
However, there are some well-founded calculations which give information on a fair price for gold. For example, the historic all-time high was at 850.00 US dollars per ounce in January 1980. Converted to today’s purchasing power and adjusted for inflation this all-time high would be at around 2,300 US dollars today.
Strictly speaking, the gold price has not reached a new all-time high during the height of the bull market reached no and currently ranks far from its historic highs removed.