AP wire story today: Gold, which investors traditionally buy when they want a safe investment, rose above $1,700 per ounce for the first time Monday. Its price remains below its 1980 record after adjusting for inflation. Read more: http://www.seattlepi.com/national/article/U-S-stocks-tumble-1767183.php#ixzz1URwbsYFc IN OTHER WORDS, in the LONG run the price of gold only paces inflation. So in the long run, the people who say gold is money are correct but those who say gold is a long term investment are wrong. If the AP story is correct, those who bought in 1980 are still behind the curve.