Video: Gold Surges To Record Highs In Emerging Market Currencies – New Highs In USD, EUR, GBP In the Coming Months?
-- Published: Wednesday, 5 September 2018 | Print | Disqus
– As emerging market currencies internationally collapse in value, there is a real risk of contagion in bond and currency markets – Turkish lira falls 43.6% and Argentine peso falls 51% and are respectively the 2nd worst and worst internationally traded and non pegged performing currencies in 2018 – Venezuelan bolivar has completely collapsed – Inflation is going to take off as wheat has surged 28% and oil is up 16% year to date in dollar terms
– Are Argentina, Turkey, South Africa, Indonesia and other emerging markets exceptions? Economists think so but contagion could spread rapidly – Emerging-market crisis is driving safe-haven demand for German Bunds and soon gold – Important not to think of gold solely in US dollar terms and realise that gold is again acting as a safe haven for those who need a currency hedge
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