TL;DR: The shadow price is a theoretical framework for how gold might be valued if certain historical monetary conditions were restored. It is not a price forecast; it is a conceptual tool for measuring the gap between today's world and a scenario in which gold regains a more central role as a monetary anchor.

* nanx.io computes the shadow price and the spot/shadow ratio in real time (both discussed below).

Gold coin of Eucratides I (171–145 BC), a Greco-Bactrian king. Unearthed at Ai-Khanoum, in today's Afghanistan, it is the largest known gold coin minted in antiquity.

TL;DR: nanx.io helps investors by systematizing fundamental analysis of public companies. We take the complexity of accounting, plus all the information noise investors face, and distill it into a set of normalized, easy-to-use scores covering the most important aspects of a company's finances.

Courtyard of one of the world's first stock exchanges. Amsterdam, circa 1670.