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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (47501)	8/10/2018 4:54:24 PM
From: Goose94	Read Replies (1) \| Respond to of 203382

Gold: Will Turkey's Currency Crisis Create Gold's Shining Moment? kitco.com The Turkish currency crisis that could spread to Europe is breathing a bit of life into gold as a safe-haven asset. Will Rhind, chief executive officer for ETF provider GraniteShares, said in an interview Friday that the gold market could be close to reversing its downward trend as investors are starting to see value at current prices.But, analysts are still concerned that the yellow metal faces tough competition against the U.S. dollar. The gold market is preparing to see slight gains on the week, ending a four-week losing streak. Comex December gold futures last traded at $1,221.70 an ounce, virtually unchanged from the previous week. However, many analysts note that technically, the gold market is still in a downtrend as prices hover near their recent 12-month low.Yet, Rhind said this might just be the beginning of a reversal for the yellow metal as half of the world’s economy teeters on the brink of a currency crisis.Loose monetary and government fiscal policies have boosted the nation’s economy but they have also created a significant risk for the Turkish lira. Friday saw the lira hit historic lows against the U.S. dollar. At one point, the U.S. dollar was up 24% against Turkey’s currency.This isn’t just a Turkey story either. Three European banks have been identified as having significant exposure to Turkey: Spanish Bank, BBVA, Italian Bank Unicredit and French Bank BNP Paribas. There is growing concern that Turkey’s problems could spill into Europe, which would be a significant drag on the region’s economy. Will Rhind CEO