GOLD WEEKLY
Gold to reach $1,500 by year end, continue decoupling from dollar - Jeff Nichols
But, there are a few clouds on the short term horizon
Author: Geoff Candy
Posted: Wednesday , 03 Mar 2010
GRONINGEN -
The links between the dollar and gold are likely to continue to weaken in coming months as, globally, major currencies continue to decline.
Speaking on the Mineweb Gold Weekly Podcast, Jeff Nichols, MD, American Precious Metals Advisors, said, "The issue really is that all the major currencies are weak currencies - in a sense they're all sinking ships - the question is which ones are sinking faster - which ones are sinking slower? I'm looking at the whole complex of currencies and thinking that the dollar, yen, pound and some of the other currencies are all weak - they're all going to be depreciating against gold - they're all going to be losing purchasing power and so it doesn't matter which one is losing it fastest in terms of gold - they're all going to be going down."
Gold to reach $1,500 by year end, continue decoupling from dollar - Jeff Nichols
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