The Demise of USD - Gold sets record 1045/oz

Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar. This may spell the beginning of the end of USD as the international trade currency. The potential collapse of USD has helped gold price to rise to a new record high of USD1,045 per ounce yesterday.