Mario Draghi was speaking in Europe before the US markets opened this morning. There were some wild gyrations in the Euro currency. First up and then down. I was watching gold at the same time.
Could it be that the reluctance of the ECB, (the Germans in particular) to lower interest rates is all that is keeping the currencies of the world from falling together?
It is intriguing that the US dollar is near to long term lows and gold is weak.
Perhaps it is a foregone conclusion that the ECB will eventually capitulate, the Euro fall, and the USD rise. Therefore why buy gold?
Or perhaps gold is just a relic of a bygone age.....
No, gold is a trading vehicle. But,the only one that I can bury in my backyard and it lasts forever.