Welcome to the Capital Note, a newsletter (coming soon) about finance and economics. On the menu today: The New Gold Rush, Sweden’s Corporate Health, the Return of Target 2, plus some stories from around the Web and an introduction to Che Guevara, central banker.
The New Gold Rush
Gold reached a record high of $2,000 an ounce on Monday. With real yields on Treasuries at record lows, investors are turning to precious metals as an alternative store of value. Meanwhile, the trade-weighted dollar index has fallen 5 percent since its May high. Some analysts have gone so far as to forecast the decline of the dollar as the global-reserve currency.
Oh, the vagaries of markets. In March, economists were warning of a dollar shortage. A global dash for cash early in the crisis brought the dollar index up 8