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What happens to Gold and currencies now?
Joe Weinman
Nov. 15, 2008
Gold is pulled between two ropes. The deflation in the economy and ballooning budget deficit is keeping gold tight lipped about the state of the matter. The currencies have finally corrected and dollar is high enough to come down as SU exports starts declining.
Gold will stay in a tight range for now till the budget deficit finally kick in the gold appreciation mode. As the commodities form a base and push up slowly, so will gold. Gold will accelerate once people realize how the $700 billion was really wasted.
The currencies will be in a tight range and then the Euro will start moving up as Europe take charge of banking collapse. Right now Europe is deep shock – they just cannot believe what Americans got them into.
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