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View Full Version : USD up, Gold down?


suckerbet
10-19-2010, 05:18 PM
If you had to guess, who would you say is buying the USD.

ingots
10-19-2010, 05:23 PM
other countries that want to boost ours so theres will stay devalued!!!!

SevenEyedJeff
10-19-2010, 05:25 PM
If you had to guess, who would you say is buying the USD.

Umm...let me guess...either TPTB, or, someone who's taking a sucker bet? :p

ingots
10-19-2010, 05:27 PM
i for one am glad to see a correction. this mini bull has been powerful for too long corrections are good. the big money will buy more later they just took some profits

eqrgargbargb
10-19-2010, 05:29 PM
Who is buying the dollar?

Everybody! Money is being pulled from gold and the markets and running for cover.

Why?

Chinese interest rate rise. ;)

criticalfriend
10-19-2010, 05:54 PM
Who is buying the dollar?

Everybody! Money is being pulled from gold and the markets and running for cover.

Why?

Chinese interest rate rise. ;)

It is all about currency fluctuations at the moment and a race to the bottom but with a little help.

The Kitco Home Page has a table which shows gold priced in US$ and in other currencies, also showing currency fluctuations. An hour ago gold in US$ was down 2.5% but the following stats jumped out:

Aus$ down 2%
Sterling down 1%
Euro down 1.5%
Chinese Yuan NO Change
HK$ down 0.05%


Would it be too conspirational to suggest that the Chinese have been dumping Aus$, Sterling and Euros to buy US$, careful to ensure that the Yuan didn't appreciate?

Is someone playing the long game or just muscle flexing ahead of the G20?

eqrgargbargb
10-19-2010, 06:11 PM
It is all about currency fluctuations at the moment and a race to the bottom but with a little help.

The Kitco Home Page has a table which shows gold priced in US$ and in other currencies, also showing currency fluctuations. An hour ago gold in US$ was down 2.5% but the following stats jumped out:

Aus$ down 2%
Sterling down 1%
Euro down 1.5%
Chinese Yuan NO Change
HK$ down 0.05%


Would it be too conspirational to suggest that the Chinese have been dumping Aus$, Sterling and Euros to buy US$, careful to ensure that the Yuan didn't appreciate?

Is someone playing the long game or just muscle flexing ahead of the G20?

I do not think that the chinese want anymore dollars, they have been working hard to get rid of them. Moves like buying jap bonds to force them to buy dollars is the sort of thing to expect from china imo. They want to drive the dollar up but I seriously doubt that they want to do it by owning anymore themselves.

The chinese government raising interest rates was unexpected.

Your move america.

GuldGosse
10-20-2010, 12:14 AM
Who is buying the dollar?

Nobody. They are selling the equity markets. Getting USD is kind of a side-effect. This is the start of the final rush to treasury bonds. Once the stock market has deflated and the dollar is strong we'll see the final move towards hyper-inflation and gold will finally peak. I think this will take more than 5 years to play out.