Because of the currency wars central banks appear to be taking it in turns to weaken against gold, while against each other they barely move. To compare gold by a neutral benchmark, the Swiss franc is good, but our favourite, is the Australian dollar:
As can be seen from the charts below of the past 24 hours trading, bullion has reached record nominal highs in pretty much all currencies.
As a point of interest, since the crisis began four years ago, the price of the average home in the UK has lost fifty five percent of its value when priced in gold.Pre crisis, it would take 360 Oz of pure gold to but the average £180,000 home.
Today, the same home has a paper price of £160,000, and with gold at a few pence under £1,000 it thus only 160 ounces of gold for the average abode.
Swiss Franc:
Australian Dollar:
Euro:
Pound Sterling:
