"Why buy now in the face of rising gold prices?" asks a pundit on the internet. If you turn his question on its head, he might have a point...

It's the risk of everything else falling that makes gold attractive. And simply because gold's been rising against all other assets, that hardly seems reason to doubt its allure.

"Gold fell in Asia [overnight] as a steadier dollar deflated buying interest," reports Feiwen Rong for Reuters in Singapore. "Investors lifted the precious metal last week to its highest in more than three months," the article goes on, but that's only true if you buy gold – and hold it – in Dollars.

Last month, for instance, the Pound Sterling rose nearly 4% against the Dollar. The Euro gained 4.3%. The Yen put on 1.8%, and the Swiss France rose 4.1% against the Almighty Greenback in November...

In fact, the US Dollar Index fell below 84...down to its lowest level since the start of last year. But buying gold however outstripped all currencies. Knocking its head on $650 per ounce, the metal became 5.3% more expensive for everyone in the world's 5 major economies last month on average – in the US, Canada, Japan, the Eurozone and Britain.

It was the same story in Asia. Against the Indian Rupee gold gained 5.1%. Japanese investors found themselves counting out 4% more Yen for every gram, ounce or kilo they wanted to buy.

Yet still the mass media stay stuck on the Dollar...

"Gold has gained 12 percent in the last two months," Rong explains for Reuters, as if the US Dollar were the only paper money the world's ever known. "The US currency's slide against the euro to a 20-month low spurred buying. Gold, sold in dollars, generally moves in the opposite direction of the US dollar, whose decline in value usually boosts the metal's appeal as an alternative investment."

Gold's always sold in Dollars? Even if that were true – which it's not if you live outside the US – gold still has value against all other assets. Paper money is only one way of counting. And despite what the mainstream media might say, there are more paper currencies than just the Dollar, too.

Back in May, gold struck an all-time record high in Sterling...way up at £383 per ounce. The very same day it topped €562 – a new record in Euros – for French and German investors, too. Dollar investors got only a 24-year high. Gold has dropped sharply against all three currencies since then.

If you need to ask "Why buy gold when it's way off its top?" then BullionVault.com may not be for you. If you like to invest when the media is looking elsewhere, on the other hand – and most especially when the fundamentals are really starting to stack up – then now might be the time.