this post was submitted on 28 Jan 2024
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Memes

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wood for sheep?

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[โ€“] jabathekek@sopuli.xyz 16 points 2 years ago* (last edited 2 years ago) (2 children)

In 1920, the average price of gold per troy ounce was $20.68USD[26.2 kB pdf]; 1 Kilogram = 32.15075 Troy ounces. Average house price in the 1920's was $6,296.

$20.68 USD * 32.15075 oz t = $664.87751 USD * 10 = $6648.7751 USD

In 2023, the average price of gold per oz t was $1,940.54 and the average home price was $495,100.

$1,940.54 USD * 32.15075 oz t = $62,389.81641 USD * 10 = $623,898.1641 USD

This meme is credible, excepting errors in my assumption that 1 kilogram of gold is equivalent to 1 kilogram of common material.

[โ€“] pingveno@lemmy.ml 11 points 2 years ago

At the same time, it picks and chooses its dates. Gold has been volatile, with the price oscillating between $2,100 USD in 1980, $470 USD in 2001, and back up to $2,200 USD in 2011.

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