Gold price in pounds reaches £1125 – only 6% off all time highs
It’s hardly surprising that the gold price has spiked higher in terms of Pounds this morning. Mervyn King at the BoE’s Quarterly Inflation Report press conference admitted that there really is no end in sight to the debasement of the British currency.
It now means that after that healthy correction at the end of September gold is back to being within just 6% of making new all times highs.
A quick look at Euro gold shows that it is even closer to making new all time highs.
Euro gold is just 4% away from making new highs.
(click for sharper image)
All this should come as no shock that gold is performing the way that it is with seemingly the only option to paper over the global financial problems – namely a printing press – are being fired up and used once again.
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