Gold is amazingly cheap just now. At the current $880.00, it trades at just $30.00 (or 3.5%) above its 1980 high. During the 28 years since 1980, practically everything has risen sharply in price. From milk, bread, eggs, meat, fish, cars and houses everything else is going up in price by leaps and bounds. Cars and houses may be slipping in price at the moment, but they are still priced in multiples of their 1980 prices.

It is interesting how we look for buying opportunities and bottoms after 20% declines in the stock market, but for oil and other commodities, we just look for lower and lower prices. Call it the curse of the high prices no one wants.