All too often, people look at the price of gold the wrong way, according to James Turk, founder of bullion dealer GoldMoney.com, talking to US journal Barron’s.

He said the price of gold rose by between 10% and 20% against the world's mainstream currencies over the last ten years. The Swiss franc has held its ground the best, with an average loss of just 10% a year against gold. The Sri Lankan rupee has dropped in value by 20% a year. The US dollar and sterling have each lost 15% annually.