Wednesday
That is, of course, impossible to answer with any confidence.
What I can confidently state is that when Gold’s true role is appreciated (store of stable value over time), and it will be, then it will be substantially north of where it is now. Confidence in the fiat money system remains strong at this time.
The following is rank speculation using a yardstick from a more stable era.
In the middle of the 19th century, an average three bedroom house in both the U.S. and England was approximately 500oz silver (Gold was rarely used as a medium of exchange as its value was too high).
In 2022, an average three bedroom house in the suburbs of a major Australian city costs around Au$800,000 – and I do mean ‘average’, nothing fancy.
So, if we assume the same value as the 19th century, the Au$ price of silver would be $800,000 divided by 500 = $1,600.
If we further assume a conservative Gold to silver ratio of 40 to 1 (it is currently over 80 to 1 and has been up around 120 to 1), then that makes the Au$ price of Gold $64,000 (Au$1,600 X 40).
Obviously, when the S.H.T.F. then it will go considerably north of that.
This is just a speculation on a rainy day where my phone is unusually quiet; not a prediction.
But is that figure real to me?
Yes, entirely so.
P.S. Au$800,000 is about US$560,000 – Au$64,000 is about US$46,000