J P

Gold's Downward Spiral Means a Buying Opportunity

What period of time did you use to come up with the 10:1 historical ratio for oil to gold? Oil has only been a industrial commodity for 100 years. I'm familiar with the 15:1 silver to gold ratio, which seems to have more history (but what that means for either metal, I have no idea.)

The real thing I'm getting at is-- what's a good proxy for valuing gold that will not be affected by inflation? Gold in dollars will go up as inflation is recognized by the economy... but I wonder about gold vs. steel or gold vs. iron, both of which have been known and used for thousands of years, and iron and steel, unlike silver, are general commodities not precious metals.