Apparently Sinclair feels it's interesting too....

Dear CIGAs,

There is nothing and no one to be fought. The end was in the beginning, and there is no force on the planet that can stop the price of gold now.

"The supreme excellence is to subdue the armies of your enemies without even having to fight them."
–Sun Tzu

Jim Sinclair’s Commentary

I have received many emails concerning the implications of Kitco’s new chart of the gold price in a basket of currencies.

What you are looking at is gold in terms of Kitco’s homemade version of a Super Sovereign Currency Index. It is an interesting concept.

The dollar to gold in the inverse remains the mover of price. An interesting concept, yes. Earthshaking? Hardly.

Kitco launches index to measure "real" gold price
By Jan Harvey

LONDON (Reuters) – Montreal-based gold dealer Kitco has launched an index tracking gold in a variety of currencies, that it says will enable investors to monitor prices independently from the U.S. dollar.

The Kitco Gold Index, launched late on Tuesday, follows the price of gold with the same basket of currencies used for the dollar index — a mechanism that measures the U.S. unit against major currencies.

The components used for the dollar index are the Japanese yen, euro, sterling, Canadian dollar, Swedish krona and Swiss franc.

Spot gold and U.S. gold futures, both of which are priced in dollars, have gained ground in league with the U.S. currency’s losses. Gold hit a record high earlier on Wednesday at $1,048.20 per ounce .

But gold priced in other currencies has seen nothing like the same sorts of gains. While the precious metal has gained almost 20 percent in dollar terms so far this year, gold priced in Australian dollars has fallen 5.6 percent .