"The Canadian Dollar has weakened quite a bit against the US Dollar for a lot of our gold stocks in Canada," Ralph Aldis, portfolio manager of our gold funds, explained during our most recent webcast."These producers benefit when the local currency depreciates."
"If you factor in lower energy prices, that basically gives companies a double whammy in terms of margin expansion," Ralph said.
"If the Dollar or any other fiat currency were universally acceptable at all times," Greenspan said, "central banks would see no need to hold any gold. The fact that they do indicates that such currencies are not a universal substitute."