The gold price
Gold Up, Euro Down - 29 November 2010
Near-record highs for the Gold Price in Euros...
SEE HOW close the Gold Price is sitting to a new all-time high? asks Brian Hunt in Steve Sjuggerud's Daily Wealth.
Only, this Gold Price high isn't in terms most Americans ever consider. It's in terms of the pan-European currency, the Euro.
The big "Euro news" right now is the debt crisis in Ireland. Like many Western nations, Ireland has taken on extraordinary debts over the years, in order to stave off fiscal reality.
Reality has finally set in, and the country needs a bailout like the one Greece received. This "bailouts for everyone" trend has folks dumping the Euro in droves.
The chart shows the Euro's performance in terms of gold. As you can see, the oldest form of "real money" has soared versus the weak paper euro. And in just the past few weeks, the metal has reached all-time high levels we haven't seen since this summer.
As more and more countries come to the European central bank with requests for a bailout, expect this "gold up, paper down" trend to continue...
Gold Investing – simple, secure and cost-effective at world No.1, BullionVault...
SEE HOW close the Gold Price is sitting to a new all-time high? asks Brian Hunt in Steve Sjuggerud's Daily Wealth.
Only, this Gold Price high isn't in terms most Americans ever consider. It's in terms of the pan-European currency, the Euro.
The big "Euro news" right now is the debt crisis in Ireland. Like many Western nations, Ireland has taken on extraordinary debts over the years, in order to stave off fiscal reality.
Reality has finally set in, and the country needs a bailout like the one Greece received. This "bailouts for everyone" trend has folks dumping the Euro in droves.
The chart shows the Euro's performance in terms of gold. As you can see, the oldest form of "real money" has soared versus the weak paper euro. And in just the past few weeks, the metal has reached all-time high levels we haven't seen since this summer.
As more and more countries come to the European central bank with requests for a bailout, expect this "gold up, paper down" trend to continue...
Gold Investing – simple, secure and cost-effective at world No.1, BullionVault...
Steve Sjuggerud, 29 Nov '10
Former stock-broker, mutual-fund vice-president and hedge-fund advisor Dr. Steve Sjuggerud is the founder and editor of True Wealth. Launched in 2001 and now one of America's best-followed newsletters for private investors, True Wealth also provides free analysis and ideas in the Daily Wealth email service.
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