gold is used as a store of value, a currency, jewelry, a monetary base, and as a speculative investment.The current price of an ounce of gold is $1,306.30.Here is a chart showing the market price of an ounce of gold between 1990 and the present (inflation adjusted).

If you could reliably predict future gold prices you could obviously make a fortune.Based on the material taught in this class, what reliable mechanism could you use to predict the long run price inflation adjusted price of gold?

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