Thursday, August 4, 2011

Gold Surges 3.8% in Japanese Yen as Yen Falls Sharply and Global Currency Wars Resume

"Gold has surged nearly 4% in Japanese yen this morning as the BOJ entered currency markets overnight selling yen thereby depreciating their currency against the dollar and other fiat currencies.

Gold’s London AM fix was USD 1,664.25/oz, EUR 1,170.61/oz, GBP 1,018.20/oz. Gold reached new record nominal highs in majors yesterday and remains close to these record highs today..."

at http://seekingalpha.com/article/284669-gold-surges-3-8-in-japanese-yen-as-yen-falls-sharply-and-global-currency-wars-resume?source=feed

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