If You Think Gold is Just a Dollar Thing...

by Dave Forest
November 18, 2010

There's a lot of speculation these days about the gold price.

One of the favorite theories is dollar weakness. The rising gold price is caused more by a falling dollar, than by increasing demand for the metal.

But the data says otherwise.

This week, the gold price in yen neared a record. Front-month Japanese gold hit 3,725 yen per gram. Just a hair below the all-time high of 3,788 yen/gram set on February 22, 1983.

Seeing gold at record levels in other currencies is a sign something beyond dollar weakness is afoot.

Here's to international gold,