Gold advanced in most major currencies in 2015

With gold finishing 2015 down about 10%, some mainstream media outlets are declaring bullion dead on arrival in 2016. But as Jason Hamlin of the GoldStockBull Web site points out, one only has to look beyond the U.S. dollar price of gold to see that the yellow metal still has a lot going for it, especially globally.

Goldactually advanced in most majorcurrencies, Hamlin noted.

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To name a few, gold posted gains in the Argentine peso, the Australian dollar, the Brazilian real, the Canadian dollar, the Mexican peso, the Russian ruble, the South African rand, the Turkish lira, and the Ukrainian hrvynia.

Analyzing golds performance in some of these currencies, U.S. Global Investors chief Frank Holmes noted that bullion priced in the Canadian dollar rose by about 7%, while it surged 31% in the Brazilian real.

Gold in fact is up about 17% in Canadian terms over the past two years. Protection from currency trouble is why people own it, and why in the vast majority of places its owners are very happy, added John Rubino of DollarCollapse.com.

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Meanwhile, long-term gold investors should be exploiting the dollars strength to their own advantage. With golds biggest decline coming in U.S. dollars, this could bean excellentopportunity to buy gold with dollars during 2016, Hamlin wrote. After a strong start to the year in 2015, the dollar effectively topped out and traded sideways for most of the year. In other words, the dollar may have hit a wall.

With China having succeeded in elevating its yuan (or renminbi) currency to world-reserve status with the IMF, and with numerous nations starting to balk at investing in U.S. Treasuries as the national debt barrels toward $19 trillion, the dollars long-term robustness remains questionable. Now is a great time to hedge your bets by unloading some green paper in exchange for the metal of kings.

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