MCX Gold Prices Tumble On Rupee Rise – Zoom To Record On Yen
Commodity Trade Mantra | Feb 05, 2013 06:48AM ET
Sentiment towards Gold Investment remains lukewarm due to recent tepid price action and confusing & mixed economic data. MCX Goldcore . It helps increase the earnings abroad when they are funneled back into yen, plus it lowers the price abroad of goods that are made in Japan and exported. The country’s strong auto and electronics sector benefiting from the cheap yen are outperforming the benchmark index. The yen fell by more than 20% against gold in 2012 and analysts are concerned that Prime Minister Abe and his new government’s determination to stoke inflation, devalue the currency and promote growth could lead to further falls in 2013. Competitive currency devaluations are set to continue and currency wars deepen and such beggar thy neighbor monetary policies will lead to debased currencies, inflation and the real risk of an international monetary crisis.
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