Gold's Intrinsic Value (or why we refrain from Goldenfreude)

Apparently gold's intrinsic value is somewhere between $1336.30 at a little after 8:00 p.m. EDT Sun. and $1397.90 at 12:00 p.m. EDT Mon.
Tomorrow it will have a different intrinsic value.
Via FinViz:


See also, from yesterday's Mankiw post:

My favorite observation on the Efficient Market Hypothesis came from a commenter at Marginal Revolution and was worthy of a post: 

Tuesday, October 28, 2008

Climateer Line of the Day: 11% Up Division
From Commenter Paul on Marginal Revolution's post

Department of Whatever

Dow up 889.

I believe in the semi-strong efficient markets hypothesis. That is, around 2pm EDT today, something happened to make the fair value of equities 8% higher.