Is Gold strength simply a reflection of Dollar weakness?

An increasingly difficult argument to make with price hitting new highs in various currencies.  As Greenlight’s David Einhorn recently remarked in reference to his instinct to short the dollar, “But then I look at the other major currencies. The Euro, the Yen, and the British Pound might be worse. So, I conclude that picking one of these currencies is like choosing my favorite dental procedure. And I decide holding gold is better than holding cash, especially now, where both earn no yield.”

Gold Rupees

Source: Thechartstore.com

  

Gold Yuan

Source: Thechartstore.com

  

Gold SF

Source: Thechartstore.com

 

Gold Pound

Source: Thechartstore.com