Gold bullion – advancing in all currencies

[MNeagle]

http://www.investmentpostcards.com/2010/05/01/gold-bullion-%e2%80%93-advancing-in-all-currencies-2/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wordpress%2FVYxj+%28Investmen t+Postcards+from+Cape+Town%29


The gold price is not only making headway in US dollar terms, but also in most major (and minor) currencies as illustrated by the table and graph below. Bullion veterans will recognize this phenomenon as a manifestation of solid investment demand (and a vote of no confidence in fiat paper per se).

The picture and the numbers tell the full story.


charts at link

[Rebel Yarr]

Up -up and away...

[1970 Silver Art]

Yep. The Yellow Metal Barbarian (and the DOG) are on the run. When the average joe six-pack realizes that currencies such as the U.S$ are not backed by anything, then watch out because there could possibly be what is called "panic buying" especially if the U.S. gov't continues to run up huge deficits and continues with its out-of-control spending.

[gunDriller]

Yep. The Yellow Metal Barbarian (and the DOG) are on the run. When the average joe six-pack realizes that currencies such as the U.S$ are not backed by anything, then watch out because there could possibly be what is called "panic buying" especially if the U.S. gov't continues to run up huge deficits and continues with its out-of-control spending.

i think a lot of the buying is doctors and other wealthy people who have lost faith in their hedge funds and are seeing gold's value.

also, a LOT of people in countries outside the US are trading in their Euro's for US $ and gold.