The price of an ounce of gold in 1980 was 400.

. However, the price of gold started to increase in March 1993.

The dollar price of gold does not increase with the US price level.

Unless governments firmly set the price of gold, as they did before World War I, the market for it will inevitably be risky and volatile.

Back then, gold hit 850, or well over 2,000 in today s dollars.

So it is nonsense to say that the rise in the price of gold was all a bubble.

There's a blind spot through the middle. A blind spot?

Spot

And, from the onset of the global financial crisis, the price of gold has often been portrayed as a barometer of global economic insecurity.

The price of gold recently reached a four month high and is approaching 1,700 an ounce.

Spot Light

There's a spot over there!

Sweeney's lot?

We sneak out at night to a spot I found near the wire a blind spot.

You got the top bunk.

You want one or two of sugar?

A recreation spot for the kids.

It's a blessed spot.

There's a blood spot.

Crosspatch overlay?

A genuine cold spot.

The gold standard rules look very different from the modern practice of monetary union, which relies on a single uniform interest rate.

End Mill and Spot Drill

It's a volcanic hotspot

Maybe I might have a spot for you.

That's a very smart spot...

You've got dirt on your face.

Not dirt, it's mud.

What do you pick for our spot?

Care for a little more color? A spot of red?

The Dollar Hits an Oil Slick

I mean, it's a tiny... it's a speck.

Slowly.

Now look at that old church.

We'll find a spot down there.

Oh, yes, that's a blood patch.

New 30second spot's ready to roll.

The Gold Bubble and the Gold Bugs

Buy gold! Gold's good.

Gold's good.

Fear that the US would abandon the gold standard sent the dollar plummeting on world markets.

Economists attributed the improved export performance in June to the depreciation of the rand, the higher dollar price of gold and increased diamond sales. 114

It was difficult to remove the coffee stain.

So we chose a small spot in the garden.

I'm afraid it's rouge.