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Gold in 2024
To market observers, gold appears ready to break into new high ground measured in all the major currencies. In fact, it is the currencies’ collapse in their values, rather than gold rising. Appreciating this distinction is vital for understanding the future of the gold/currency relationship. To support this thesis, the relative price volatility for commodities and energy in dollars and gold are compared. Gold wins hands down as the objective value in commodity transactions. It is hardly surprising, bearing in mind that gold is legal money and currencies are credit with counterparty risk. Therefore, the prospects ... (full story)