[Table of The Week] A Look at Gold Around the Globe
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A move back to all-time highs may seem like a lot of work for the shiny metal, but let’s put things in context by analyzing how it has fared in other currencies of late. The table below shows Gold's performance in 18 of the world's most important currencies.
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The data speaks for itself. Earlier this week, Gold made a new all-time high in 14 of the 18 currencies. It registered a fresh multi-year high in every currency and has an average trailing 12-month return of 30%.
Along with the Swiss Franc, Hong Kong Dollar and Chinese Yuan, the US Dollar is among just four currencies in which the price of Gold has yet to eclipse its record highs made almost a decade ago.
Given the relentless strength for the metal globally, a 16% move back towards 2011's highs for Gold in US Dollars seems to be the next logical move if it manages to stay above 1,560.
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Allstarcharts Team