Sluggish Gold Action a Result of U.S. Dollar Strength

Van Eck Precious Metals and Oil Hotline (10/20/2008)
"...We believe gold is undervalued. Most of the recent sluggish action in gold of late has been a result of strength in the U.S. dollar - mostly against the euro. As fear (and gloomy rhetoric) have gained momentum in recent weeks, it has become increasingly fashionable to say that the euro might cease to exist during the next year or two. We believe that is extremely unlikely and we are investing accordingly.

No one knows what the near-term will bring with the markets. However, as some sense of normalcy returns to the financial markets, we expect to see gold and silver move a lot higher..."

 PRINT THIS PAGE   EMAIL THIS PAGE

Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.

Related Quotes: