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Not End of USD Yet, Latest Premium Trades

by Ashraf Laidi
Aug 10, 2011 5:52

Keeping rates at exceptionally low levels for at least 2 additional years shall remain among the reasons to the exceptionally strong rally in metals, as these are powered by the substitution effect from interest-bearing money. With money hardly compensating investors for the time value of money, gold and silver are now compensating via their appreciation.It is premature to claim a downward spiral of the US dollar against the euro, British pound, as these economies will likely go into their own version of additional central bank stimulus. In fact, we expect fresh damage for the British pound today.

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Ashraf Laidi

 
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