One way to judge the relative worth of gold is to compare it and other commodities in terms of a currency index, removing currency fluctuations from both prices. We used trade-weighted dollars. Shown this way, the price of gold and gold’s price change versus other commodity prices gives a view of inflation expectations. We used Thomson Reuters Datastream to compare currency-adjusted gold with a similarly adjusted CRB commodity index. This view indicates that gold is at a greater price extreme relative to other commodities than it was in the early 1980s, near the end of a decade-long bull run for the metal.