Ashraf Laidi on AlArabiya Talking Euro & Gold - Dec 12, 2011

Dec 12, 2011 20:38
Ashraf Laidi telling AlArabiya of that week's warning about a break in the EURUSD's consolidation has yet to unfold and that gold is due for further losses towards $1600s. Also, on how the sell-off in the once safe-haven metal has been triggered by the activation of safety & raising of cash during the uncertainty, such as today's negative guidance by Intel and the growth/credit rating warning from Fitch at a time when S&P was anticipated to unfold to follow-up on last week's "group" warning. When asked about the SOLUTION to the Eurozone debt problem, the answer given is aggressive participation by China & Brazil into the latest bilateral contributions to the IMF, currently totaling € 200 bln, and raise the amount by at least € 150 bln.

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