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Gold (XAU)

Outline

Here you will find factors related to gold as a monetary asset (XAU): shadow price and spot/shadow ratio.

The notion of the shadow price offers a conceptual tool to understand how gold might be valued if certain historical monetary conditions were reestablished. It is not a price forecast, but rather a theoretical framework to understand the gap between the current situation and a scenario where gold regains a more central role as a monetary anchor.

More information at the post: Gold shadow price.

Sources: World Gold Council (historical data), gold-api.com (real-time data), Federal Reserve Bank of St. Louis (historical M0), International Monetary Fund (Federal Reserve System gold reserves).

Spot price(USD/troy ounce)

@2024-11-29

2,651.05

Shadow price(USD/troy ounce)

@2024-10-01

5,322.39

Spot/Shadow ratio

@2024-11-29

0.50

Spot price

2,651.05
USD/troy ounce

Real time spot price of gold as a combination of the bid and ask prices in various markets.  – read morelaunch

Stats
Average = 786.41
Moving average (20 points) = 2,646.00

Shadow price

5,322.39
USD/troy ounce

The shadow price of gold calculated as the relation of gold reserves held by central banks relative to 25% of the issued monetary base M0.  – read morelaunch

Stats
Average = 1,089.05
Moving average (20 points) = 5,424.57

Spot/Shadow ratio

0.50
adimensional

Relation between the spot price and the shadow price of gold, calculated as: spot price / shadow price.  – read morelaunch

Stats
Average = 1.00
Moving average (20 points) = 0.50

Constant price

2,651.05
USD/troy ounce

Historical price of gold in constant dollars as of today (calculated using the USA GDP deflators).  – read morelaunch

Stats
Average = 1,135.83
Moving average (20 points) = 2,646.00

USD Monetary base M0

5,567.20
billion USD (109)

Historical M0 monetary base series as published by the Federal Reserve Bank of St. Louis.  – read morelaunch

Stats
Average = 1,155.03
Moving average (20 points) = 5,674.08
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