i'm interested to hear what you believe is a reasonable price.
you're right to call me out for my statement. there's no really good way to value gold, since it's basically a useless, decorative material.
for me, as a (potential) purchaser of collectible gold, i'd be reluctantly willing to pay about $1000/ounce.
for something more objective - total cost of production is in the realm of $1100/ounce (but this is very plastic, since it will expand and contract with the actual cost of gold). still, somewhere around there is likely a near term floor.
oth, when interest rates rise, gold should fall. discount as you like.