I know very little about the markets and so am asking this as a lay person. My question is, with the near constant doom and gloom about the eurozone in the last couple of months would one not expect a constant upward trend in the price of an ounce of gold?
Yet the gold price is currently 85 euros an ounce cheaper than it was in early September. It's also 203 US dollars cheaper than it was in late August
Is the US Dollar now being seen as something of a safe haven causing a move away from gold and resulting in both the euro price and dollar price of gold to stabilise/decrease while the dollar strengthens vs the euro?
Also, are worried Europeans less likely to buy gold than worried Americans? There seems to be much more of a survivalist culture in the US than in Europe with the hoarding of gold/silver/bullets/tinned food a big part of this culture.
Yet the gold price is currently 85 euros an ounce cheaper than it was in early September. It's also 203 US dollars cheaper than it was in late August
Is the US Dollar now being seen as something of a safe haven causing a move away from gold and resulting in both the euro price and dollar price of gold to stabilise/decrease while the dollar strengthens vs the euro?
Also, are worried Europeans less likely to buy gold than worried Americans? There seems to be much more of a survivalist culture in the US than in Europe with the hoarding of gold/silver/bullets/tinned food a big part of this culture.
