Huge Moves Coming In Gold, Silver, US Dollar & The Euro
November 8, 2012
Today King World News spoke with the global head of strategy for Brown Brother Harriman, which does over $600 billion each month in currency transactions. KWN wanted to get Marc Chandler’s take on where the US dollar and euro are headed from current levels because this directly impacts the gold and silver markets. Important implications for gold and silver are included here.
Here is what Chandler had to say: “We are seeing general strength in the US dollar, despite the fact that the Fed is engaged in quantitative easing of an unlimited nature, and despite the fiscal cliff looming. Right now the euro is trading at two month lows against the dollar.
The broad-based US dollar strength has caught the market wrong-footed, and I am still bullish the US dollar in spite of the approaching fiscal cliff. But a date is certain. We know this is going to be resolved one way or another by December 31st.
However, the European crisis is of an unknown nature….