Can gold continue its seven-year winning streak?

Gold rose 31.4% against the US dollar last year - its best performance yet. And if central bankers persist with the debasement of their currencies, 2008 will be another good year for gold.

Gold continued its winning streak in 2007 climbing 31.4% against the US dollar, which is its best year so far. Gold has now risen for seven consecutive years, and not just against the US dollar.

As the following table shows, gold also has a seven-year winning streak against the Japanese yen and Chinese yuan. Against the Australian dollar, Swiss franc, British pound and Indian rupee, gold has risen six of seven years. It is also important to note that gold has climbed in each of the past three years against all the major currencies of the world.

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