CHART OF THE DAY: Actually, Gold Is On A Tear, And Near All-Time Highs

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Disappointed that gold isn’t regularly busting to new highs like it did last year?

You’re just looking at it wrong.

In euros, a currency that’s come under serious pressure, gold is basically at an all-time high.

In other words, it’s not gold that’s gone up or down, it’s changing attitudes towards underlying currencies that has changed.

When gold sells off against all the currencies — because investors suddenly have a new found love of paper money — that will be a story.

chart of the day, euro per ounce

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