[ noun ] too low a value or price assigned to something <noun.cognition>
Undervaluation \Un`der*val`u*a"tion\, n. The act of undervaluing; a rate or value not equal to the real worth.
In the Louvre accord in February 1987, they agreed its depreciation had gone too far, that its undervaluation was disrupting the world economy.
Yet at least part of the recent rise may reflect the undervaluation of gold earlier in the year. Consumption - most notably in the far east - was almost twice world mined production last year.