Things that make you go hmmm... how far are we from reaching an all time high in gold prices?
The answer depends on what currency!
In Canadian dollars, as of 6/24/2019, the gold price is $1869.72 CAD. The all time high was back in 2011 when it hit $1908.03 CAD, at a time when the CAD/USD was at par.
In Australian
dollars, as of 6/24/2019, the gold price is $2037.42 AUD.
Wait a minute, even in 2011, the price of gold, priced in Australian dollars only ever hit $1800 AUD. So right now, the price of gold, is making new all time highs!
Of course, in US dollars, the price of gold is still quite a ways from the all time highs, but if the FED cuts rates dramatically, and aligns with the larger part of the world with record low interest rates, the price of gold, priced in USD may start to look a little more like the price of gold in Canadian dollars or Australian dollars.
