Euro retesting 1.2400 soon. though I last forecasted 1.2425. Euro has shown resilience in the face of the Eastern European collapse. If Euro survive this year, it is proven to be the next reserve currency of the world. Then Euro going to 1.7000 or 1.8000 is a matter of time.
First Europe needs to distance itself from Sakorzy influence, the flamboyant leader who is fast losing support in his homecountry. China retract its Airbus orders is a big blow to the French employment. Expect more turmoil in France, as compared to other European members. Its bank Societe Generali and BNP would soon be in the spotlight.
As for Gold, going to retest its up trendline support since this rally. the support is around 870-880. Now spot Gold at 915. May be this would be the last time we see Gold at 800.
Though consumer demand for Gold jewellery has waned, nations demand for Gold is ever increasing, to bolster its urge to print more monies.
In fact, license to mine Gold is probably the most desired commodity in the world in the near future.
As faith currencies soon loses faith with the masses, when BoE and ECB are going into Quantitative Easing.
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