Tim Iacono

Despite all the hoopla about a new all-time high in U.S. dollar terms, the 2009-2010 version of the recurring gold bubble is still quite modest by historical measure, a point that should be clear to see in the graphic below that was in dire need of updating.

Surely, the current move up would be much more impressive than the last two if the metal were priced in euros. It now seems to be only a matter of time before the important €1,000 an ounce milestone is reached – with spot gold now trading at €977 an ounce, it looks to be just a matter of just days, if not hours.