In dollar terms it’s not as dramatic. We’re moving upward but nothing terribly unusual. But check out gold priced in euros. That’s a solid move.
Should everyone go out and buy gold now? Probably not. Of course owning some gold is always good. (And by owning we mean holding it in your possession.) It is a vote for honest money in the marketplace. Gold is a challenge to the central banks and the Keynesian economists which run them. Gold is worth owning for those reasons alone.
And there is quite a lot of wisdom to the old gold fan’s adage which goes;
Q. “What do we do when the ‘price’ of gold goes down?”
A. “We buy more.”
This is a pretty good wealth building strategy if one thinks about it. But when the price of gold is rising things are trickier.