Below are the historical Gold Chart obtained from Kitco
While the US was on Gold Standard, the price of Gold was fixed at $35.
But circa 1968, the price of Gold started increasing and reached $850 in 1980's.
That is Cycle Wave 1 in this count. Subsequent Cycle Wave 2, a Double Zigzag WXY brought the price of Gold to $250 in the Year 2000.
Gold has been rising in Cycle 3 since the 2000 bottom.
Chart is for the average price for the month, so $850 does not show up on the chart.
This chart below goes back all the way to 1833. As can be see for most of this time US was on the Gold Standard. Price of Gold was fixed at $20, until 1934 when FDR devalued the USD to $35/oz.
Then circa 1968 the price of Gold started rising again as US technically abandoned the Gold Standard, and officially the USD was delinked from Gold in 1971.
Chart is for the average price for the year, so $850 does not show up on the chart.