US Dollar weakening - Gold going up in $ and down in £!

[BackyardBullion]

It is very interesting to look at this weeks Gold chart in US $ side by side with GBP £

US $ is weakening - people buying lots of gold - price goes up.

For us over here it means that the buying power of our £ is stronger. And consequently we see a fall in gold prices!

Economic principles of supply and demand completely turned around by fiat currencies!

[ilovesilverireallydo]

19 minutes ago, BackyardBullion said:

It is very interesting to look at this weeks Gold chart in US $ side by side with GBP £

US $ is weakening - people buying lots of gold - price goes up.

For us over here it means that the buying power of our £ is stronger. And consequently we see a fall in gold prices!

Economic principles of supply and demand completely turned around by fiat currencies!

Also worthwhile stocking up if you visiting US on both silver and Gold

[HawkHybrid]

I'm thinking this could be a good thing for brits.

if you hold gold then in dollars it's up.

if you hold £'s then in dollars it's up.

and dollars is the international trade currency.

devaluing your currency to get more trade should be a

last resort move not the 'go to' strategy. if I can sell an

item at the full price, why would I put it on sale?

 

HH

[Oldun]

The US is doing it for two reasons right now:

1. To help exports

2. To make it easier for huge US companies with assets stashed abroad to bring it back to The US to also take advantage of the recent tax cuts (double win).

[sixgun]

The price of gold and silver would be completely unchanged in Kinesis - if it were to be available.

The ECB is meeting today and the USD is tanking against the EUR. But they are all going to Hell in a handcart just at different speeds.

[Nora]

Very interesting.  Are most people on this forum brits?  I'm an American  

[Stu]

3 hours ago, Nora said:

Very interesting.  Are most people on this forum brits?  I'm an American  

British based forum but plenty other nationals are members.

[airmac]

American/luxembourger living in Luxembourg here.