With Gold Just 1% From Record Nominal High of $1,444/oz The Risk Of A Dollar Crisis Increases By Day

Tuesday, March 22, 2011

From GoldCore.com
Gold Just 1% From Record Nominal High of $1,444/oz – Risk of Dollar Crisis Increases By Day
The U.S. dollar and yen are under pressure again today while gold and silver have taken breathers after yesterday’s gains (see table). Rather than gold and silver rising in price, we are seeing the continual devaluation of the U.S. dollar, the yen and all fiat currencies and thus their prices falling against the precious metals.

Incredibly, the dollar has lost 7.5% of its value in less than 3 months (since January 7th 2011) and more than 17% in just 8 months since August 2010. Hence the nominal record highs in gold and silver. The volatility and sharp falls in the dollar are leading to deepening inflation throughout the world (as seen in the UK inflation rate of 4.4% today).

Read more: Here

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