Gold Rises and Silver Surges In Q1 2012 – Fiat Currency Devaluation Continues
GoldCore
GoldSeek.com
Friday, 30 March 2012
Gold has been trading in a tight box around $1,660/oz today, as euro zone finance ministers meet in Copenhagen to discuss the scale of the permanent “bailout fund” set for July.
Gold has been stuck in range of roughly $1,630 to $1,700 in recent weeks, as risk appetite has returned after the latest European debt “solution” which saw the battered can kicked down the shortening road once again.
Nothing has been solved with regard to the European debt crisis and debt crises in Japan, the UK and the US now loom.
The misguided panacea of heaping debt upon debt and shifting debt onto government balance sheets, debt monetisation and currency debasement is leading to continuing currency devaluations internationally.
Despite this or maybe because of this – risk appetite returned with a vengeance as evidenced in equities internationally rising to multi month and multi year highs and the slight weakness in gold in March.
So far in 2012, gold has performed well and is set to end the first quarter in 2012 with gains in all major currencies.
Gold is 6.3% higher in US dollars, 3.2% higher in euros, 3.1% higher in pounds, 2.25% higher in Swiss francs and 12% higher in Japanese yen which fell sharply in the quarter.
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