Still on the volatile price of gold - it is increasingly obvious that commentators and traders don't really know what is going to happen next to the price, so they jump on stories like the IMF selling gold or China's plans to buy more as if they offer meaningful clues (both covered in this Kitco thread).

On a related theme, Galmarley.com offers charts which show the current and previous movements of gold in various currencies. This is interesting information if you are used to assessing value in terms of your own currency, because the charts are not all the same - currencies of course go up and down in value relative to others, and the charts reflect this.

Many of these monthly charts show that whatever the currency gold seems to be settling around a particular value (the equivalent of about US $1000 per ounce), perhaps as a new baseline level.

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