The headline writers do their best to make you think that Gold is a US Dollar story. But in the real world, the one we’re all forced to live in, Gold is a Gold story. It really has nothing to do with the US Dollar, and if you price gold in the other currencies, you’ll see that very quickly. While gold might be struggling when priced in US Dollars, if you look at it priced in a weaker currency, say emerging markets, you’ll see a completely different picture.
Today we are looking at Gold priced in an equal-weight basket of Emerging Market Currencies, specifically the BRICS: [Read more…]