Looks like gold is starting a little rally here.. what would attribute this rally to... dollar is strengthening here.. so its kinda strange?
Gold Rally...
- Thread starter Trend Fader
- Start date
here read this ...
-Gold Gains on Comex as Investors Shift Holdings From Euros-
June 10 (Bloomberg)
-There is gold being bought in euro terms-
-Gold, which has moved almost in lockstep with the euro's performance against the dollar in the past three months, at a correlation coefficient of 0.76.
-The correlation was 0.93 before voters in France and the Netherlands rejected the treaty-
(Also helping gold prices Friday was the strength
of the mining sector )
-Gold Gains on Comex as Investors Shift Holdings From Euros-
June 10 (Bloomberg)
-There is gold being bought in euro terms-
-Gold, which has moved almost in lockstep with the euro's performance against the dollar in the past three months, at a correlation coefficient of 0.76.
-The correlation was 0.93 before voters in France and the Netherlands rejected the treaty-
(Also helping gold prices Friday was the strength
of the mining sector )
http://www.bloomberg.com/news/markets/commodities.html
Thanks.. I got the link.
This sums it up...
``Investors are probably a little disturbed about holding euros and uncomfortable holding U.S. denominated assets, so they look to the third alternative, which is gold,'' Gartman said.
Thanks.. I got the link.
This sums it up...
``Investors are probably a little disturbed about holding euros and uncomfortable holding U.S. denominated assets, so they look to the third alternative, which is gold,'' Gartman said.
Basically the Euro is toast.. and its back to either dollars or gold.. and I bet many are buying both.. I personally would go back into Gold in favor of the dollar.
The value of gold measured in US Dollars only shares one common variable with the value of the US Dollar measured in other currencies.
Therefore the value of gold measured in US Dollars "gold price" need not follow the value of non-USD currencies measured against the US Dollar.
Although the attached chart shows the value of one ounce of gold being less than 350 euros, it does not include Friday's data, which would show a reading of about 352 Euros.
Therefore the value of gold measured in US Dollars "gold price" need not follow the value of non-USD currencies measured against the US Dollar.
Although the attached chart shows the value of one ounce of gold being less than 350 euros, it does not include Friday's data, which would show a reading of about 352 Euros.
