Gold Still holding just above $1600 despite Euro The Euro and EURO stock markets are / have been taking a beating, today they are all down again...G. Soros gave the EU 3 months to sort out their debt crisis, pointing out Germany needs/has to take action now...Actually both the US$ and the Euro have so far have been giving lip service and promises to the crisis but no real solid concrete action monetary or otherwise, by either of them..And thus Gold has been stuck just above $1600 US$, until concrete action is actually undertaken by one or both...
The US$ FED has been rumored to take solid/concrete actions in their meeting in early SEPT. to stimulate the US Economy, and Growth....after all it is a Presidential Election year in Nov...
The EURO of course has promised much more, but so far no real action...The pressure on the Euro is building, with once again Spanish and Greek etc..debts, in the headlines...So we know monetary easing will occur on both sides, however the timing of these decisions maybe eventually decided by the current and upcoming market sell offs themselves...
Mellow...