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12:27
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Originally posted by Dillinja
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that's cause you don't get that gold is simultaneously a commodity, a currency and an investment skol. that's why you will never understand gold and why all your predictions have been so far off the mark yet you continue to comment on the subject.... so as this is an aussie web site, and most here deal in aussie dollars and derive our income in that currency and spend that coinage in the shops, the US dollar pricing of gold while great internationally as a guage of things is not the proof positive if all other currencies are finding the POG to be higher. what it does tell though is that as the money taps from the fed and BoE dry up the cheapo money borrowed to invest on the carry trade is withdrawn and people holding the other currency(s) follow that borrowed US money back and buy US dollars to protect themselves against currency fluctuations. thereby pushing the US dollar higher, and you stupidly think that somehow that is a 'good' thing for the US..... maybe they can spin a few extra months of consumer led growth as American borrow more, but looking at Fords drop last night in the US on the back of weaker earnings, I'd say the US economy is in its final death throws. oh and your housing starts are down 1% on pending sales... anyway, I think its time this thread name was dropped, as its quite evident that GOLD has not plunged like a stone, it is only the US $ that has risen and that's for a whole lot of different reasons than any perceived gold weakness.
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Dillinja,
