Great article from Zeal on Gold and the events of the last two weeks. Here’s the author Adam Hamilton’s final remarks:
The bottom line is euro-gold €1000 is a very important psychological milestone in this global gold bull. Just as $1000+ did here in the States last autumn, €1000+ will make gold far more appealing to legions of European investors. Their buying will drive gold even higher. So to see €1000 challenged this week for the first time ever, even if it doesn’t hold, is very exciting. Gold history is being made before our eyes.
While probabilities favor the super-oversold euro bouncing and scuttling this initial €1000 attempt, it is only a matter of time until this level holds for good. Euro gold has powered higher on balance for years despite the simultaneous strong bull market in the euro. While it isn’t as bad as the dollar, ultimately the euro is just another devaluing fiat currency that investors can help protect themselves from by owning gold.
Read the article: Euro Gold €1000 at zealllc.com
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