Oil and Gold, page-89

Lighthouse presented a graph showing the evolution of nominal oil prices over time and the price of gold in terms of barrels of oil.

If you ignore the line showing the evolution of nominal oil prices, a pure distraction, then what you see is periods during which the price of gold in terms of oil either stay the same, went down or up.

I suspect that a graph showing the evolution of the gold prices in terms of potatoes would not look much different.