Gold's All-Time High

March 10, 2009 | By: Hard Assets Investor

By Brad Zigler

Real-time Inflation Indicator (per annum): 6.9%

Gold's rising meteorically – that is, if you have to pay for it with pound sterling. While some citizens on this side of The Pond are scratching their heads over gold's to-date failure to make new highs against the Yankee dollar, British subjects have left their pates pretty much alone. Gold, for those paying in quid, has risen 42% since last August. Greenback users have had to contend with barely a 1 percent rise.

Indeed, the dollar's dropped back in

the gold derby, trailed only by Japan's yen. Since the summer, in fact, gold's cheapened by nearly 8 percent in Nippon.

Gold's Recent Price Trend

For those thinking the glass is half full, the dollar's steadiness is a coda to America's inflationary excursion. In March 2008, gold reached an all-time high against the dollar, a jump that put the metal's price appreciation well ahead of that in other currencies.

We all know what happened since then. Which makes the glass-half-empty folks worry that there's worse bad stuff ahead for Old Blighty.

And what does the trailing Japanese yen portend? Well, we all know what preceded that. That's got some observers worried about the prospects for the dollar and the U.S. economy it represents.

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