“Why are gold prices at seven-year highs? More significantly, why are the GOLD/EUR, GOLD/YUAN, GOLD/YEN, GOLD/SWISS crosses at or close to making all-time highs? When the stock market rally of 1998-2000 was in full swing GOLD was being sold and trading around $280 an ounce. In fact, the BANK OF ENGLAND famously sold its GOLD between 1999 and 2002 because they were so sure of its demise as a haven/currency alternative.”
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