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A new global rate-cutting cycle has been announced, and gold has broken out to the upside, getting all the gold bugs excited. Gold traders are speculating whether or not gold is on its way back up to old highs. What they forget though is that in many currencies, gold has already reached new highs; in some cases, quite some time ago. Gold is at all-time highs in Australian dollars, Swedish krona, and Indian rupee among others. Gold is significantly above all-time highs in most emerging market currencies and has been since gold bottomed out in