Growing Acceptance Of Gold As The World’s Premiere Currency

Headlines tend to focus relative strength/weakness between fiat currencies. For example, the Mexican peso is setting fresh highs against the dollar. While the peso is setting new highs against the dollar, it’s setting performing poorly against gold. The steep and accelerating trend of the global price of gold (including the peso) illustrates gold’s growing acceptance as the world’s premiere currency. See charts below.

US Dollar Gold:


Mexican Peso Gold:


Yuan Gold:


Swiss Franc Gold:


Real Gold:


Canadian Dollar Gold:


Australian Dollar Gold:


Headline: Mexico's Peso Closes Stronger, Sets Fresh 2-Year High Vs US Dollar

Mexico's peso continued its steady appreciation versus the dollar Friday, reaching its strongest closing level since Oct. 2008, after a key U.S. data report pointed to a gradually improving labor market.

The peso was quoted in Mexico City closing at MXN11.9925 to the dollar, according to Infosel, compared with MXN11.9895 shortly after the open and MXN12.0090 at Thursday's close.

Source: online.wsj.com