by Michael J. Howell21. July 2015 15:20Short answer is ‘No’. Capital flows still favour the US dollar, and they do not yet look kindly on gold. That time may come, but we would first have to see much looser Central Bank monetary policies, at a time when the US is talking up its policy tightness, and/ or much weaker private sector cash flows, which would signal recession. For now, the US looks underpinned, and with the exceptions of the Euro, the New Zealand dollar and most Emerging Market Currencies, paper money still looks a better place to be than gold, its antithesis.
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