21/05/2016

Stiglitz Gold

The debate about dropping the dollar as the currency for oil transactions is not new. Among the elements that are contributing to the weakening of the dollar, the end of the international recession and the beginning of the recovery of the global economy, have been also the fears of investors who found a safe haven in the U.S. currency. Joseph Stiglitz went to question the veracity of postulated by the U.S. Government's aim to maintain a strong dollar: A United States not interested in a strong dollar, is pure rhetoric. But we should not take all the blame for the increase in the price of gold to a weak dollar. For some, like Jack Ablin, head of investment of the private bank Harris in Chicago, the context of rates partly explains what is happening: in an environment where interest rates are virtually at zero, the increase in the cost of switching to gold is null.

That is the reason that makes Gold more appealing to investors. Both from the point of view of the foundations and from the point of view of technical analysis, gold maintains its attractiveness. Michael Kempinski Commerzbank operator, encouraged the impulse buyer saying: Investors (and) funds are still buying because the technical side looks good, good argument for those who base their decisions on the evolution of charts and technical indicators. At the site of one of the leading marketers of precious metals, Kitco, Eric and David Coffin said the following about what is happening: the dollar is falling for their own reasons and gold is being seen as a viable alternative currency, it is sufficient for now to explain their earnings in dollar terms. Eric and David Coffin also make reference to what is happening in the balance between supply and demand of gold: the central banks have been net purchasers of gold lately, and this is a strong movement in the balance of demand.
May 21, 2016 8:04:05 PM

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