Everyone seems to use the 2300 price as the inflation adjusted price for the high water mark for Gold in 1980.

I think that using the CPI inflater is improper. As many people have commented the CPI has been changed many times to lessen the public perception of how high the inflation rate actually is.

I exchanged E-Mails with Bill Murphy last night about that exact subject. I encouraged GATA to start using the Shadow Government Statistics (SGS) calculation which is almost three times the 2300 price.

I would post the price but I am not a subscriber to the site. But it has an inflation calculator that shows the CPI adjusted price with a bar chart of the increase and the SGS price ONLY in bar chart form.

So if someone here is a subscriber, we can get the unaltered inflation adjusted price for Gold...and it will surprise you on the difference.