In our view, this gold breakout against the world's primary paper currencies highlights gold's growing allure as a store of value against further currency debasement caused by governments spending with little restraint. Gold appears to be reassuming its role as an alternative currency unencumbered by political liabilities.

David Fuller's view The key chart for the very long term will be gold in Chinese renminbi, a currency temporarily pegged to the US dollar. Subscribers can see gold in all the world's main currencies in the Chart Library, under 'Relative Charts - Commodities & Indices in Currencies' found in the drop-down menu.