Thank you for the interesting article about golds "fair" value. I remember many many years ago David once mentioned that somebody he respects mentioned that the fair value of a certain British gold coin is a dinner for two at Claridges in London. Unfortunately, I do not remember which coin it was.

Eoin Treacy's view

Thank you for this reminder. I believe the coin in question is a gold sovereign which currently retails for £294. By that measure it would be difficult to conclude gold is overvalued, particularly if the diners wish to have a glass of wine with their dinner.