With the Euro debt crisis not leaving the headlines and volatility gripping the markets, the flight to gold has become even more pronounced over the last week. GLD pushed through technical resistance at the previous 52 week high around $120 earlier this week and hit a high of $122.24 today. If the volatility continues, [...]
Posts Tagged ‘euro’
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February 25th, 2010
Recent trends between the Euro and Gold Prices
Traditionally investors in gold have used this precious metal as a safe haven at times when risk aversion is at its highest and therefore, fears regarding inflation and the security of the US economy have historically driven its price up. Owing to this it has exhibited a strong inverse relationship with movements in the US dollar on foreign exchange markets until recently when, due to several factors, this longstanding relationship has started to turn on its head.
February 10th, 2010
Trading the Greeks
Update: As expected, an agreement was reached early in the morning US time between the ECB and Greece to refinance their debt. Gold is rebounding and is up about 0.5%
