06 October 2009

Gold, dollars and euros

Never ever before has gold been so expensive.
1 ounce, just a little bit more than 31 grams, was sold today for more than 1040 dollars.

For quite some time now investers have been selling their dollars; buying gold, because gold is considered relatively stable. They are afraid of inflation of the dollar...and by their behaviour they're making it a self-fulfilling prophesy.

Today some newspaper reported that the Golfstates are considering to stop using dollars for the oiltrade, and using euros and yens instead.
Even though there were as many articles denying this step, this couldn't prevent a further fall in the dollar.

Right now a euro is about 1.47 dollar, which is almost the topvalue


Anonymous,  9 March 2010 at 01:43  
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