While gold in U.S. dollar terms is still over $100/oz from the record hit a year ago, gold in euros is already right at that record and testing a breakout. This all makes sense considering that the spotlight has been and continues to be on Europe at the moment. As I mentioned in my latest weekly piece, I think the spotlight will turn to the U.S. after the election, when things will get very, very dicey.
Gold in Euros Two Year Chart
Oh and just for fun, let’s have a look at gold in Indian rupees. No wonder they are buying it in India and the authorities are freaking out!
Gold in Rupees Two Year Chart
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