Auguries — Flowers In The Dustbin
February 2, 2012
By Kevin Michael Grace

Gold was up (at press time) $37.20 (+2.2%) for the week to $1,762, and silver was up
.85 (+2.5%) to $34.30. At the Globe and Mail, David Rosenberg comments, “Gold has begun behaving less as a commodity and more like a currency. Its attractions are obvious: No central bank can print gold, and it is no country’s liability. In contrast, holding paper money is looking less and less attractive.”

Reuters, on the other hand, remains committed to the position that gold is lashed to the mast of the SS Euro. It matters not whether this explanation makes any sense; its continued assertion will cause gold prices to fall with the Euro, at least in the short term. With that in mind, let’s have a look at the latest financial news from the Continent.

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