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Currencies stink, gold in demand

By   || March 2, 2010 at 15:55 GMT
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That seems to be the feeling this morning as gold reasserts its traditional safe-haven role as the market questions the sustainability of nations borrowing and spending their way to prosperity.

EUR/USD is racing higher along with gold as the battle of the “big uglies” continues. The market is having a tough time deciding if the euro, pound or dollar is the worst of the major currencies. Given the dollar’s reserve status, it generally seen as slighty less ugly than the others, but pretty butt-ugly in an absolute sense…

Gold trades now at $1132, closing in on the 50% retracement of its fall from $1225 to $1044 which comes in at $1134.75,

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