Gold Against G5 Currencies Chart
The following chart from a Whiskey and Gunpower  newsletter shows how over the past few years the price of gold has gained against the G5 currencies. Â
Gold has already made an all time high against the British Pound Sterling as well as the Japanese Yen. Gold has not yet made a new all time high against the US Dollar but it is coming close. Gold is trading at about $812 an oz as I write after correcting to about $797 from $832.
While the physical demand for gold is part of the bull market story a lack of confidence in the US Dollar as well as other paper money is likely more significant.
How high can gold go this bull market run? Ahhhhhhh, that is the question, isn’t it? I expect a great deal higher. Some respected analysis are already taking about $2,000 an oz. When you look at the uptrend right across the board in commodity prices as well as the falling Dollar that number no longer looks so ridiculous.
