Despite some recent weeks where we’ve seen both gold and the U.S. Dollar move higher, the trend came to an end today.
However the trend of trading gold in EUROs and YEN is still alive in well.
As the U.S. Dollar Index moves higher, today surpassing the 83 mark, gold priced in U.S. dollars will come under pressure. The fact Greece, Spain and the other countries in the Eurozone have shown they can’t manage their affairs is and has been cause for concern. This trend won’t change for some time.
EURO Demand for Gold
What is occurring in the Eurozone however is an increased demand for gold. This demand is driving gold priced in EUROs to new highs. Right now the EURO is trading at just over $1.30 to the U.S. Dollar.
November 18th, 2009, I asked readers to start looking at possibly trading Gold in EUROs. At that time, the EURO was trading just under $1.50.
The EURO has fallen 16% since my November 18th alert and gold priced in EUROs is up 12.62% more than Gold priced in U.S. Dollars since that date.
Doug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
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