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 Gold Price Drops as Failing Euro Makes for a Strong Dollar says Pan American Metals of Miami- Gold Price Drops as Failing Euro Makes for a Strong Dollar says Pan American Metals of Miami
- October 19, 2011
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A strong dollar and rumors that commodity contracts may be limited combined to cause a drop in the price of gold today.
MIAMI, FL - Following yesterday's rise in price, today saw another sharp correction for gold. The euro dropped sharply, making for a stronger US dollar and causing a 'knock-on' effect for gold. The strong US dollar makes gold more expensive to own in other currencies, therefore forcing down the price as investors outside the US start to bail. Gold still has a strong value as a safe haven but investors vary in their attitudes to owning gold. Those who are looking for long-term security will hold ...
- View more at: http://www.1888pressrelease.com/gold-price-drops-as-failing-euro-makes-for-a-strong-dollar-s-pr-343779.html
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