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Commodities Briefing - Categorized | Bullion/Gold, Currencies more

Gold’s currency role increasing once more

Posted on 31 May 2011

While gold is clearly a monetary asset and will, if anything, extend its influence as the only non-fiat currency (especially following developments in Europe last week), it is clear that in recent weeks it has been moving more closely in line with the rest of the commodities sector than with currencies or other financial instruments.
Correlation analysis however shows that the relationship with the $:€ rate is tightening, while that with the G6-trade-weighted rate appears to be relatively static. The price in euros, meanwhile, has been tightening its relationship with credit default instruments as concerns over European debt have intensified once more……………………………………….Full Article: Source

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This post was written by:

VRS - who has written 38144 posts on Opalesque Commodities Briefing.


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