Greetings,
The move of the USD and the gold prices are very interesting these days and can be easily exploited by non-USD holders.
When the USD devaluate, the gold prices would hike and the non-USD currency as well (CAD for example). Hence the net profit would be a bit less (in CAD) because there is a gain in the gold price but a loss because of the currency exchange.
However, this might protect the downside when the USD gains in value. In this case, the price of gold (very short term) would decrease. However, the conversion into CAD would give an extra profit (due to currency gains).
This is not a perfect relation (although it is linear and might hold under various conditions). However, it might encourage people to invest if they want to avoid the steep downturns.
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