A huge development happened in the world of economic chart-making today. FRED, the brilliant economics data and charts site that's run by the St. Louis Federal reserve, has finally added gold prices to the database.
Now at the tip of your fingers is gold priced in dollars and pounds going back to 1968, and gold priced in euros going back to 1999.
Not only is gold a fascinating commodity/quasi-money in its own right, there are so many myths about what gold is, and what its price represents, the inclusion of gold in this very easy-to-use database will prove to be incredibly useful.
To celebrate the introduction of the gold data, we've whipped up a handful of charts we've been wanting to make for awhile.
Here's your house priced in gold. As you can see, it's cheaper than it's ever been.
This is the S&P 500 priced in gold. We're very close to multi-decade lows.
This is a barrel of West Texas oil priced in gold. Again, it's cheap, though it's been cheaper in the past
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