Gold Prices Holding Up Well

Kitco.com reported on Gold Prices Holding Up Well:

Despite Portugal’s sovereign debt being down graded the eurocrats have managed to calm the waters and keep the euro reasonably steady. Austerity is the word for the Europeans, real or imagined, whereas stimulus is the word for the United States. Interestingly the euro is steady but the dollar has lost 6.8% of its value in just over a month as the spot light once again is focused on the fundamentals of the dollar. Throw in a down grade from the Chinese and things don’t look to bright for the US sovereign debt.

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