Gold has fallen today in all major currencies except the Swiss franc which has fallen on SNB intervention rumours. Gold is trading at USD 1,791.40, EUR 1,257.10, GBP 1,107.70, CHF 1,318.80 per ounce and 136,976.00 JPY/oz. The yen has fallen by 8.7% against gold so far in August as the yen, while rising in dollar terms, is falling sharply in gold terms (see chart below).

Gold reached new record nominal highs at $1,814.95/oz and new nominal highs in euros and sterling yesterday. Gold’s London AM fix this morning was USD 1,786.00/oz, EUR 1241.75/oz, GBP 1105.75/oz.