| Are we too focused on gold’s US dollar performance to see its real value for those outside the USA? LBMA Gold price end 2013: US$1 201.50; Gold price end 2014: $1 199.25 – only down a minute 0.19% over the year. Thus, by effectively marking time vis-à-vis the US dollar over the full year gold outperformed virtually all other currencies in maintenance of value.
Frank Holmes of US Global Investors pointed this out neatly with the graph below in a recent article. Indeed its LBMA afternoon price on December 30 at $1 206 was actually 0.4% higher than its 2013 close in US dollars too but something of a dollar rally on the morning of December 31 brought it down a little...............................................Full Article: Source
|