Alan:
"Marx ... frequently employs such expressions as 'gold can rise
above its value'. What does this expression *mean* if prices are
determined by the labour content of gold?"
Allin:
It means that the embodied labour-time commanded in exchange by an ounce
of gold is greater than the labour-time required to produce an ounce of
gold. This would be a temporary, disequilibrium phenomenon, on the strict
LTV.