Buy Gold for Under $300 an Ounce

Do you want to buy gold for under $300 and ounce, US dollars. How does $252.00 per ounce sound. Pretty good right.

Well if you were to adjust the recent prices in Gold and Silver for inflation you’d see that the 24 year highs that we are seeing aren’t really that high at all. Back in the late 70’s and early 80’s gold reached record highs that might have been a bit overpriced for the times but in today’s dollars would have been a bargain. If you adjust for inflation, at today’s prices of around $600 an ounce would mean that adjusted for inflation that same $600 would buy about $280-$300 an ounce.

If you look at the graph below the price of Gold adjusted for inflation has been in a steady decline (obviously so from the past 20 years), then with the recent climb over the last 7 years we really haven’t seen close to the overpriced market that we saw in the early 80’s. Gold and silver alike have a long way to climb to even come close previous record highs.

Source: How to buy Gold for $252.00 per ounce!

 

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