Why is Europe now breaking into its gold vaults

Gold has always attracted its fair share of eccentrics. More than any other commodity in the financial markets, it has provided a haven for oddballs and conspiracy theorists.

Right now, they can have a field day. Something strange has been happening in the gold market. Europe looks to be bailing out of the metal as gold prices soar and politicians squabble with central bankers over how to make use of the proceeds.

In France, the new finance minister, Nicolas Sarkozy, is arguing for the Bank of

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