It is a perfect environment for the gold bugs today as central banks try to outdo each other in their efforts to weaken their currencies. We’ve reached $1330, a new record in nominal terms. In inflation-adjusted terms, gold is miles below its 1980 peak, giving further hope to the bulls/bugs…
EUR/USD’s rally has reached 1.3812. Traders report heavy German selling into the rally ahead of an soon-to-expire 1.3825 barrier option.
