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.
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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