Gold Price Exploding In All Currencies Worldwide

Gold and gold stocks are on the move after the surprise move from the Swiss National bank to remove its currency cap versus the euro this week. This highlights gold’s valuable role as a store of value when currency volatility destroys purchasing power as it has in many parts of the world over the past year.

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There is a rule of thumb which says that, if gold is rising in at least 3 major currencies, there is a bullish environment. Well, here are the facts and the figures. The charts below highlight gold in several major currencies. The yellow metal has rocketed higher, not only in all of those currencies, but in literally every currency worldwide.

Gold in Euros broke the long term basing formation by piercing through €1000 in early January, as we wrote in Gold Price In Euro Breaks Out, Pierces €1000. It is 10% higher in a matter of weeks.

gold_price_euro_January_2015

Gold in Canadian Dollars is already testing its 2014 peak which it had set in March.

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gold_price_canada_January_2015

Gold in Japanese Yen is already well above its 52-week high. Not coincidentally, the Yen has almost collapsed in the last two years. Gold holders in Japan have been able to retain their purchasing power, at least for the part of their wealth invested in physical gold.

gold_price_yen_January_2015

Gold in South African Rand is attempting to test its 2014 high, set in March.

gold_price_south_africa_January_2015

This is the bonus chart: Gold in Belarus (part of former Rusland) has literally exploded higher in the first two weeks of January. It is at its all-time highs currently.

gold_price_belarus_January_2015

 

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  • Silver bug

    All Currencies Worldwide? Exploding? Does not look like it is exploding in the USD.
    A little melodramatic you are.

  • Well, my belief is that it is justified to use “explode” because the current rise in the gold price is occurring during a very strong US dollar bull market. Also, gold in all currencies non-USD is rising strongly as evidenced by the charts in the article.

  • Dean

    Not really, USD is way up due to perceived safe haven but when it comes crashing down along with all other currencies you will see the truth of what he is saying all too clearly.

  • Jim

    The fact that gold us exploding in other currencies while it’s not here in the U.S. Is because the dollar has also rallied on those other collapsing currencies. Perfect time to buy gold with US dollars before the dollar collapses.

  • barbaradsparling

    QE,HFT and endless Fiat are nearly impossible to factor in this PM scam. Fear is what will make PM’s rise. Until a majority understands the truth the “fear” factor will not come into play. Manipulation will rule until then, and the manipulators have deep Fiat pockets,not to mention derivatives reserved for future market changing moves.

  • melissalwods

    QE,HFT and endless Fiat are nearly impossible to factor in this PM scam. Fear is what will make PM’s rise. Until a majority understands the truth the “fear” factor will not come into play. Manipulation will rule until then, and the manipulators have deep Fiat pockets,not to mention derivatives reserved for future market changing moves.

  • Ashley Terry

    impossible to factor in this PM