What if I were to tell you that gold is within earshot of all-time highs. You’d call me crazy. But I’m not.
Below is a chart which shows gold prices denominated in Canadian, Australian and U.S. dollars.
You’ll notice gold went on a tear in all currencies from 2000 to 2012. However, after that, gold priced in U.S. dollars has under-performed. Gold priced in Canadian and Australian dollars has been very strong and is within striking distance of all-time highs.
Below is a chart which shows gold performance in Canadian, Australian and U.S. dollars since 2012.
The reason for this out-performance in Canadian and Australian gold pricing is due to U.S. dollar strength versus Canadian and Australian dollar weakness.
Lots of news outlets will lead you to believe there’s a race to the bottom in currencies. And while this may sound dire, it’s great for resource companies in the right jurisdiction.
Right now, there’s a small handful of companies that are making a killing and cashing in on “$2000 GOLD”.