On Sept. 6, 2011, gold reached an all-time high of $1921.50. This was the exact day that the EUR/CHF peg was put in place. The gold price subsequently went into a long decline that has surprised many. Given that the gold price to Federal reserve debt ratio, you would expect the gold price to be much higher. Could it be now that the Swiss have unpegged the CHF from the EUR that gold will rise to where is should be? Many are not speculating that this could be the case. Time will tell.
Gold weekly chart
This interview on Bloomberg with MarK O'Byrne from Goldcore is typical. Just have a listen to the guy from Bloomberg trying to talk down gold at every chance. See video here
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