This is dated 10/07/09 from the Kitco site.......did everyone but me see it?

SUMORADA

Wednesday October 7, 10:30 PM

Kitco launches index to measure "real" gold price

Click to enlarge photo
By Jan Harvey

LONDON (Reuters) - Montreal-based gold dealer Kitco has launched an index tracking gold in a variety of currencies, that it says will enable investors to monitor prices independently from the U.S. dollar.

The Kitco Gold Index, launched late on Tuesday, follows the price of gold with the same basket of currencies used for the dollar index -- a mechanism that measures the U.S. unit against major currencies.

The components used for the dollar index are the Japanese yen, euro, sterling, Canadian dollar, Swedish krona and Swiss franc.

Spot gold and U.S. gold futures, both of which are priced in dollars, have gained ground in league with the U.S. currency's losses. Gold hit a record high earlier on Wednesday at $1,048.20 per ounce .

But gold priced in other currencies has seen nothing like the same sorts of gains. While the precious metal has gained almost 20 percent in dollar terms so far this year, gold priced in Australian dollars has fallen 5.6 percent .

Kitco said its index aims to determine whether the value of gold is actual, a reflection of changes in the dollar value, or a combination of both.

"When you take the dollar out of the equation, which this basket does, and you start looking at gold in the six-currency basket, you realise that this has been a dollar story," Kitco senior analyst Jon Nadler told Reuters on the sidelines of the Commodities Week Europe conference in London.

"We lose focus on real value or fair value by simply looking at the $1,000 situation."

(Reporting by Jan Harvey; Editing by Veronica Brown and William Hardy)

Wolf359

Jon Nadler (or Nadless as some call him) is in the hip pocket of the banksters of the paper shorts. Ignore him, he's a shill.

SUMORADA

Thanks Wolf359

secondrepublic

Jon Nadler always seems to have something negative to say about gold. Maybe he's trying to show he's "independent."

coynclecter

I read Nadler quite often, with all the gold bulls explaining why gold will keep rising its nice to hear from someone who has been saying gold will go down........for the 5 years (since $400 oz) that Ive been reading him.

roadrunner

Gold vs. the Dollar index currencies - chart

This is all a matter of interpretation. Fwiw a chart of this has been quite available by using a ration of Gold to the UDN etf. Kitco hardly devised anything new. Unlike the dollar's failure to achieve a new all time high in the first half of 2009 the USDindex currencies did achieve a new all time high in the early part of this year....and by quite a large margin. That fact that it has taken a serious dip is not a surprise....look what gold vs the US dollar did in 2008! But it seems that gold vs the dollar index is well on its way to recovery. The Aussie has been pounded and the Yen has still not made a new all time this year vs gold. I can look at the chart and say its bullish.

Charting gold against other currencies is a way of keeping things honest. Only the Yen has failed to reach a new all time high this year. The Aussie did but also got pounded very hard following a nice spike up.

roadrunner