From Mr Miswin Mahesh.

Sir, Gold prices surged as India decided to swap dollars for bullion. You report (November 4) that gold prices hit a record price of $1,087.45 per troy ounce. A move representing the lack of confidence in the dollar is also measured in dollars. It seems one really can’t ditch the dollar when everything has a price tag denominated in dollars. If you really distrust the dollar, it doesn't make sense to swap dollars for bullion. Buying looks like selling, and you exacerbate the decline of the dollar by sending such signals while still holding dollar-denominated commodities.