Where Will Gold Bottom in this Corrective Cycle?
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Post by Melissa Pistilli, Gold Reporter
Post by Melissa Pistilli, Gold Reporter
The 321gold.com reported Where Will Gold Bottom in this Corrective Cycle:
Currently we are seeing a strong counter-trend rally up in the US Dollar. Investor’s should keep in mind that the dollar index is simply a mathematical calculation against a basket of other currencies. In this case, 57% of that formula is the Euro. The Euro has had a dramatic correction and is likely to continue to drop due to problems in Greece and other countries. This makes the dollar look better on a relative basis, but investors should remember this is largely cosmetic.
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