The price of gold in USA dollars should be expressed at the close tomorrow by this simple formula..........on January 1 1999 the Euro was introduced with the simple but brilliant idea of letting the gold price inflate at 2% per year......and ....allow the central banks to KEEP inflation to 2% per year......

 

 

The Euro was introduced with the idea of keeping 1 euro = 1 usa dollar =$300 an ounce goldinflating at 2% per annum....

 

Today is exactly 4 years after that historic even and prices are very stable

 

The price of gold when expressed in USA dollars is $300  x 1.02 x 1.02 x 1.02 x 1.02 = $324.72 for parity EUROS or US dollars

 

Today the USA dollar trades for a measly 0.9551 E

 

therefore the USA price of an ounce is $324.72 / 0.9551 = $340.00

 

If my idea that this formula has any validity....the price of gold at tomorrows close should be able to be expressed by this formula