Some serious decoupling going on around January 2003. Isn't this when the housing bubble was in full swing?
Left axis is gold multiplied by the Fed rate (as a hard integrer, not as a percent). On the right is gold divided by the Fed rate.
Whatever this means, were off in the "10,000 units" zone again. Zooming in on the last few years:
Wanna guess where there first purple point ticks off the baseline? Answer: October 2008.
But remember, the Fed keeps the rates low because there is no inflation. At least, that is what you're being told, and the government always tells the truth, so move along ...