Sunday, September 12, 2010

Rush to Buy Gold Contributing to the USD Dive

Well, it looks like the USD is certainly in the doldrums against other major currencies right now. It is at the lowest ever in 2009 and probably for the rest of 2010 too. Is this the “kickback” reaction from President Obama’s economic countermeasures acted upon last year and this year? Also, are all this countermeasures enough to save, sustain and maintain the biggest economy in the world? I am not qualified to answer these questions. All I know is that now is a good opportunity to buy gold. Perhaps the rush to buy gold now is contributing to the USD showing a lackluster performance too as virtually everyday since I have been looking at the related charts for the last two years shows opposite reactions between the USD and the gold price (apart from a few special cases).

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