Great point, but how close are we to that $500 price point are we since our currency has been artificially propped up. Kind of an invisible inflationary pressure so to say.
That's why I was saying gold averaged $500 in 2014$, it's the price after inflation's taken back out of it, meaning the exchange rate of gold for "typical things people buy" these days is still pointing to a further return to gold buying less and less. Example (from here):