Eurozone’s Woes Just One Driver of Gold
Posted by Investment Rarities on September 15th 2011 in Bailout, China, Federal Reserve, GATA, General Economy, Gold, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!
On a day in which gold is said to have fallen “after EU debt plan feeds risk appetite,” one analyst tells The Street to “remember that it’s not just the European situation that’s going to drive the direction of gold. You’ve still got the fear of inflation on the back of the stimulus programs by the European central bank, European countries more broadly, and here in the U.S. So, even if the European situation works itself out, there are still potential inflation problems down the line.” And arguing that the macro conditions for gold haven’t changed, he also points out that the world is “running out of safe havens,” and while a “temporary rally” in the dollar may be negatively impacting gold, “gold can increase in value at the same time as dollar strength.”
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