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Will the Greek Bailout Make Gold, Silver Rise or Fall?

- Julian D. W. Phillips - Gold Forecaster

The use of gold to bail out of a crisis has been a practice followed by individuals and nations alike. It is a well known fact, that India which figures on the top of the list of countries from where the demand for gold originates, had way back in the 70s mortgaged 65 tons of its gold as security to obtain a loan in dollars from a central bank. Due to the embargo and own currency having limited value outside its borders, Iran is using gold as a barter to purchase its routine and immediate requirements. With dollar losing its sheen as a world currency untill it is replaced, more of such trade transactions delinked from the dollar and transacted in mutually agreed currencies or in gold are likely to become the order. Net net gold may emerge the winner in the evolving monetary system.

Commented 4648 days ago

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Beginning of the headline : Some investors may feel that the Eurozone debt crisis has been resolved by the bailout from the other E.U.members.Whether it has or has not, is irrelevant to the price of gold, or is it? There are still hurdles in the way, such as the acceptance by private Greek Bondholders of the 53% haircut and low interest rates they will get until 2015... Read More

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