Tuesday, February 16, 2010
Dollar - Euro - Gold
Gold in Euro's makes new high. Investors in Europe, and for that matter, Britain (where gold is back above the 700 level in British Pound terms), are buying gold at a torrid pace because they are afraid!
It is really that simple. One can argue that their fears are misguided, exaggerated, overblown, or whatever expression that they might choose to employ but no one can argue against the fact that there is palpable fear in Europe right now. Gold is doing what it always does at such times and always will as long as confidence in paper money evaporates.