Euro Gold

The last leg higher in gold was fueled by fear about the Euro, likely largely driven by Europeans looking to diversify. With the Euro trading sharply higher recently the buyers are facing a double whammy of lower gold in dollar terms and a stronger Euro. Those European buyers are learning that its better to buy insurance during times of calm than during an emergency.

1 comment:

Anonymous said...

Another dull day in the market.

I think i'll go watch the grass grow.