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Really is deathly quiet out there in marketland, only thing that really stands out is the divergence between spot gold in USD and the EURO. They once moved in virtual lockstep, now USD gold is rising almost daily as the EURO plunges ever lower. 10 day EURO chart enclosed. Spot Gold now 1642 and challenging resistance at its 200EMA.

 

"Nero fiddled while Rome burned"

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The International Monetary Fund is proposing to raise its lending capacity by $500 billion to insulate the global economy against any worsening of Europe's debt crisis, according to a person familiar with the talks.

 

The Washington-based lender currently has about $385 billion available to lend and wants to lift that to $885 billion after identifying the potential for a $1 trillion global financing gap in the next two years, the person said. To incorporate a cash buffer, that means asking its membership for $600 billion.

http://www.bloomberg.com/news/2012-01-18/i...uro-crisis.html

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Rome is still burning, Nero is still fiddling, however the amounts being spent mount daily. memo to self: Dont forget the IMF still own a heap of gold, but can it be sold? luckily the answer is probably no, since the countries who contributed the gold to the IMF originally would never agree. The flip side is that the EURO is rising ever so slightly off its sick bed, consequentially gold in USD is dropping--now USD 1644 and moving further under the illusive 200EMA.

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  • 4 months later...

"Even if we go bankrupt we need to tell them clearly that we won't leave the euro in any event. They'll have a bankrupt country in the euro, which means other countries can go bankrupt as well and the whole euro zone will blow up," said electrician Thanasis Zahariadis, 47.

 

"So they won't let us go bankrupt, no way. These are just threats. I'm going to vote anti-bailout

 

http://www.cnbc.com/id/47518874/page/2/

 

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f let them go, and set example for other piiggs who don't want to follow the rules. short term chaotic will be over in few months time. but greeks will stay in the gutters for long long time!

 

 

 

 

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Could you alter the background colour of your charts - I find it difficult or is it my computer

 

I could but regretfully am not going to---try hovering above the chart with mouse and enlarge it, or go to bottom RHS of the internet page and increase the size that way.

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  • 3 months later...

interesting that since Draghi first mooted he was going to do whatever it took to save the Euro, it has appreciate a minimum of 16% against a basket of currencies including both the USD , the Renmimbi and the AUD. Sometimes the printing of money does not signal a fall in its currency. funny how the markets can make fools of us all.

Mick

 

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interesting that since Draghi first mooted he was going to do whatever it took to save the Euro, it has appreciate a minimum of 16% against a basket of currencies including both the USD , the Renmimbi and the AUD. Sometimes the printing of money does not signal a fall in its currency.

 

Mick, do not think you can look at currency support in that sort of simplistic manner, the interrelationship with firstly the USD, then Gold, and the Euro and AUD play a far bigger part in why one currency falls on QE (the USD Index) and others react differently under QE, for some time the EURO the AUD and spot gold in USD have moved similiarly, with the USD Index going in the opposite direction.

 

IMHO everything is sheeted home to the US and the utter financial shambles they have created for themselves.

 

4 charts. Euro, Gold, AUD, USD Index.

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