Gold, Euro & the Dollar – What’s Next

Gold found some support early this month thanks to worrisome U.S. economic data. The precious metal gained currency against the dollar as questions were raised about the direction of the economy. While the SPDR Gold Trust (NYSE: GLD) was still down for the week thanks to a poor opening to the period on renewed concern about Greece and the euro, economic concern proved an important counterweight. This week presents the likelihood for more of the same mix, so expect volatility. Whichever is weakest, the euro or the dollar, will determine the path for gold. See my article on gold & the dollar here. Article interests PowerShares DB US Dollar Bullish (NYSE: UUP), CurrencyShares Euro Trust (NYSE: FXE) and ProShares UltraShort Euro (NYSE: EUO).

DISCLOSURE: Kaminis is long UUP. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.