Shortly after 12 EST time today Gold pushed above $700 an ounce. This is the first time since 1980 that gold has hit this price point.

As you may know, relative to inflation gold is still historically low. I do not think this is a blank check to gold investment safety, but it is an interesting fact to take into consideration. Here are some numbers you might not be aware of — Gold adjusted for M3 money supply.

About a month ago I created a chart pegging the price of gold on the supply of US dollars. The formula used was the price of gold divided by M3 times 100. The numbers are very revealing.