Ashraf Laidi of CMC Capital Market (via PragCap) makes an interesting argument that gold has a long way to fell, noting that while its obviously slipped against the dollar, it actually remains near all-time highs against the weak euro.
The bottom line: When the gold bear market starts in Europe, then you’re really going to get creamed in dollar terms. (Get it?)
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See Also:
- Euro Bulls Suffer A Near Miss As IMF Suggests Europe Target Higher Inflation
- Euro: Next Stop $1.30
- You Thought Gold Was Looking Ugly? Gold Miners Are Trading At Levels Not Seen In Years