对于那些将黄金当做纸币的一种替代品的投资者来说，黄金的吸引力与这些投资者对其他货币保持其价值的能力的恐惧程度密切相关。

For investors in gold who think of it as an alternative to paper currencies, its attractiveness is intimately linked to their fears about the capacity of these other currencies to retain their value.

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