Gold Price Hits Another "Real Money" High - 30 March 2011

The gold price just extended its 10-year uptrend with a fresh record high...

LAST WEEK delivered another new high in the world's strongest – and longest – uptrend, says Brian Hunt in Steve Sjuggerud's Daily Wealth...

...the ongoing 10-year rise in "real money" – aka the price of gold.

As our friend Chris Weber pointed out in January, gold's 10 consecutive years of higher prices is an anomaly. No uptrend in any widely traded asset in the past 200 years can match this rise for sheer "year in, year out" consistency...which was boosted by a huge $200-per-ounce move late in 2010.
 
After such a huge move, it was only reasonable to expect the Gold Price to go through an extended, healthy correction. That's just how the markets work. Gold did decline in price a little...and then staged an amazing rally...which has taken it to a new multi-decade high. This is some of the most impressive price action we've ever seen, and it's indicative of a huge trend the mainstream media isn't telling you about...or doesn't even understand.



The trend is the loss of faith in the US Dollar. As we've recently shown Daily Wealth readers, the US government's "tax, borrow, and spend our way to prosperity" mindset has brought our colleague Porter Stansberry to say that we're not "headed" for a currency crisis, we're in one right now.

The Dollar – aka "paper money" – is losing ground against gold – aka "real money". And as gold's amazing rally shows us, the rate at which the Dollar is losing ground is accelerating.

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