“This can end only in two ways. Either Germany tolerates massive monetary reflation by the ECB or Spain will be forced out of EMU, setting off a catastrophic chain-reaction through north Europe’s banking system.” – Ambrose Evans-Pritchard
FX Trading – The Gold-Scotch Connection!
Now even Iran is jumping on this dollar bull market… The Iranian central bank has announced that it will sell 45 billion euros from its foreign exchange reserves to buy dollars and gold, China’s official Xinhua news agency reported on Wednesday, citing unspecified Iranian media reports, Reuters reported.
Helps explain why the dollar and gold have been moving in the same direction.
Gold vs. US$ Index Weekly:
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