In the markets today: local currency strategist catches a glimpse of why gold glimmers

A well known local currency strategist for one of the big local banks, this morning sent an email around with the only content of the mail being the link to the article below.

Slowly but surely, the realisation dawns on the currency strategists that gold is the soundest currency of them all.

Gold is the final refuge against universal currency debasement

By Ambrose Evans-Pritchard, 26 Sep 2010

States accounting for two-thirds of the global economy are either holding down their exchange rates by direct intervention or steering currencies lower in an attempt to shift problems on to somebody else, each with their own plausible justification. Nothing like this has been seen since the 1930s.

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