Gold measured in wheat or oil is expensive

The Economist published on the 26.04.2011 an interesting chart measuring gold in oil and wheat:

 

Although wheat and oil has surged substantially for the last year (i.e. the latest drop of the graphs), gold is still above the red line, which symbolizes the purchasing power of wheat and gold at prices of 1986 to buy gold.

Gold has experienced a fabulous bull market for the last decade surging from $ 250.- to over 1500.- (+600%) per ounce.