"We are now moving irrevocably to a time when gold will measure currencies, not currencies measure gold," said Julian Phillips, a South Africa-based contributor and founder at GoldForecaster.com...

"The methodical debasement of fiat currency, via super-accommodative monetary stimulus, is an continuing trend that has hugely contributed to the 12-year rally in gold," said Peter Grant, chief market analyst at USAGold.

"Whether this has already degenerated into a currency war or not, it is a trend that seems likely to continue for some time to come," he said. "And that is ultimately a positive for gold."

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