Unfortunately, many are mistaking this euro weakness for dollar strength. A quick glance at the price of gold – which has made new highs in both currencies – quickly disproves this myth. The fact is that both the dollar and the euro are losing value. At the moment, the euro is losing value faster; however, in the race to the bottom, my money is still on the dollar to win.
Related: SPDR Gold Trust (ETF) (Public, NYSE:GLD), iShares Silver Trust (ETF) (Public, NYSE:SLV), Market Vectors Gold Miners ETF (Public, NYSE:GDX), PowerShares DB US Dollar Index Bearish (Public, NYSE:UDN)
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.