They say "necessity is the mother of invention". Swiss refinery Valcambi have developed an easily breakable gold bar to ease payment in times of crisis. Gold is coming to the fore as an insurance policy against instability of the nation states of Europe.
Gresham's Law states "Bad money drives out good". Europeans are spending their Euros to purchase gold for hoarding. Thus, the phrase. Gold hit an all time high in Euro terms on October 1st 2012 at Euro 1,385. Notably, the Euro bottomed in July, 2012 signalling a relief of the pressure on the Eurozone. The debt crisis maelstrom may be angling towards other shores. Whether it is headed for Japan or the United States, only time will tell.
"Customers are hoarding gold mostly at home as a precaution against a crisis, just as their fathers and grandfathers did before them,' Mr Geissler said."
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