Using the Inflation calculator of the U.S. Department of Labor (Bureau of Labor Statistics),
$ 850 in 1980 has the same buying power as $2,259.99 in 2008.
Expect more volatility next week, both in Gold and the Equity markets. For now Gold needs to consolidate in the mid 800's for a while longer, before its next upmove. It is above its crucial long term support - the 300 Day MA currently at $840.67