Monday, May 12, 2014

Concern About A Strong Euro Is Bullish For Gold

Mario Draghi of the ECB is "concerned" about a strong euro because it might lower inflation. This comment is bullish for gold because both the euro and the dollar are losing value.

Related trading instruments: SPDR Gold Trust ETF (GLD), EURUSD;

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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