In recent weeks, prices for gold have continued to skyrocket. In July, prices reached an all-time high of $1,982 per ounce for the yellow metal. This is an incredible performance for a non-yielding asset. This time last year, an ounce of gold cost around $1,400, meaning that gold prices have risen by around 40 per cent within the space of a year. The cause of the rally in gold prices is well known. Central banks have cut interest rates to zero and they have restarted quantitative easing policies. What is interesting about the current gold rally is that central banks…

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