and even here (among other links on this forum):
Isn't it easier or more familiar to most Europeans to move out of euros and buy up dollars? That is my thesis for dollar appreciation. It's the best of the worst in class.
Yes, easier mostly due to temporal availability/liquidity within the established infrastructure (i.e. "convenience"). Other currencies also benefit in relation to whichever region is under pressure at the time, so the principle you've outlined applies across the board. The Euro and numerous other currencies (as well as asset classes) benefited from USD depreciation during its time in the crisis spotlight.
That's the forced demand. Gold (with silver & platinum to lesser degrees) are in demand by choice. The Swiss Franc was experiencing this relentless demand because it was the only currency not being debased, but its much smaller quantity relative to the Euro and USD meant that its price would shoot up far more rapidly than the other two would decline. Such a rapid rise in currency value causes structural instability within the respective economy, and without anything else to alleviate that building pressure, the SNB intentionally devalued.
The only way to debase gold is with a composite tungsten core and a pile of hope that the buyer doesn't realize he's being duped...
