The Chinese are told by their government to own gold bars and now India is picking up that investment philosophy. Dollars are no longer seen to be reliable - unless you are talking Canadian dollars or Australian. European money continues to flood the Canadian Hedge funds as Canada seen to be a haven of stability for the next 20 years.
The Australian dollar is one of the strongest currencies in the world because it is a commodity-backed currency. That’s why it hit a 29-year high against the US dollar today – and it’s all related to the gold price