I would not value gold in terms of the dollar. Hypothetically, gold could go up to $100,000 an ounce, but this will be pretty meaningless, as the purchasing power of the dollar will be next to nothing. Most likely that 1 oz of gold will still buy you a tailored suit, just like it did in the 1920’s. The value of gold should be based on what you can trade it for, true purchasing power. The relationship of gold to BRIC’s should reveal the same tradeability or purchasing power of gold (value).