gold, page-101996

Hi CourtShort, you say that "raising interest rates will have a negative affect on gold". It is more likely raising rates will have a far negative impact on equities and real estate because people borrow to buy these assets, and because companies become less profitable due to servicing larger repayments.
In 70's intetest rates started to rise to quel inflation.
Gold went from $35 in 1970 to $680 in 1980, in the same period the FED rate went from 7% in 1970 to to 12% in 1980. People were paying their homes off at 18% interest. Clearly rising interest rates did not affect the price of gold. I've heard some say we are headed for deflation, as far as I'm concerned we've been in a deflationary environment since 2008, and inflation is going to roar over the next 5 years at least. Do a short calculation on the average price of gold in 1970 and the average price if a home in Sydney was $18700 and in 1980 it was $76500 so in 1970 you could buy a home with 534 ounces of gold, 10 years later you only needed 112 ounces to buy the same house. In 2021 the average house price in Sydney is $1.3 million you would need 722 ounces if gold to buy it, this shows how under valued gold us right now. Based the above figures, what is golds true value?