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All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum

Volitile Exchange Rates, What Effect On Gold Price?

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DavidUK
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 Posted 04/12/2016  07:28 am Show Profile   Bookmark this topic Add DavidUK to your friends list Get a Link to this Message Number of Subscribers
I live in the UK (pounds sterling) and I see the exchange rate vs the dollar has been volatile of late.

I am vaguely aware that there is some connection between the price we pay for a dollar and the gold price but am unsure exactly how the connection works.

Is it just generic (if the pound is weak then gold must be strong) or is there more to it? Why is the UK/US exchange rate bouncing around at the moment?

Any advice for how to choose which day to buy?

Since I have been looking the price has dropped from £925 to £850... I am not looking for a quick flip (these are something I will probably keep for a long time... like an emergency fund) so I am not too worried, but what's the outlook and how is it effected by exchange rates?
oriole
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 Posted 04/12/2016  10:45 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
In my view, there is still sometimes the perception that the US dollar is a 'safe haven' currency, but when that perception weakens, the role of 'save haven' is to some extent filled by gold. I have noticed this with the Canadian dollar as well.

I will not speculate as to whether any of these perceptions is true. I do not think that currency or commodity prices follow any predictable pattern. They are heavily based on psychology.

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All Forums Category: General Numismatic Forums Forum: Precious Metals and Bullion - Gold, Silver, Copper, Platinum



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