Gold's gyrations are the Dow Jones index of anxiety
For all practical purposes, the world has been off the gold-exchange standard for nearly eight years. When it comes to transactions among central banks, mankind's most treasured possession is supposed to have no more relevance than the Mongolian tughrik. So much for the official view of gold's value. Out there in the real world, the metal that Economist John Maynard Keynes once Wrote off as a "barbarous relic" has never shone more brightly.
From Bangkok to Bangor, investors are buying up gold−and paying record prices for it. Scarcely a week goes by without a...
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