Will investors run fore cover from Dollar exposure?
*Financial Times, by Javier Blas & Michael Mackenzie, January 2, 2008:
"Dollar fear sparks rush to oil and gold
Crude oil prices briefly hit the $100-a-barrel mark and gold prices
jumped to an all-time high as investors on Wednesday poured money into
commodities amid deepening fears about the weakness of the US dollar.
The oil price rally soured the first stock trading day of the year,
with the Dow Jones Industrial Average closing 1.7 per cent lower, its
worst start since a slide of 1.9 per cent on the first day of trading
in 1983.
The dollar’s fall against the euro and the yen – which makes
dollar-denominated commodities cheaper to non-US buyers – came after
the US manufacturing sector slumped to its lowest level in five years
during December."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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