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Fear Index (VIX) has been moving up of late and it appears the VIX is not the only asset moving higher, as fear is increasing.
Gold and the Swiss Franc continue to moving higher inside of their rising channels as deepening concerns remain around the world!
Many investors think the Dollar is a safe haven play should things get worse….. yet when it comes to a currency safe haven play in 2011, the U.S. Dollar year-to-date is down 5% and the Franc is up 15%!
Bruno….Top of the rising channel for Gold comes in around $1,800. Should Silver break $50…anything is possible, due to $50 was the high almost 30 years ago…getting above those highs would be an important breakout.
And since end of 2010 CHF is performing even better than Gold…
I’m surprised that CHF also beats other “safe heaven” currencies like AUD or CAD.
Well, Switzerland has introduced several years ago a “debt brake” which helped to reduce debts even during the financial crisis.
But I wonder how much stronger CHF can get considering that it also hinders exports?
Back to Gold. What do you think of latest comments of Citigroup analysts which say Gold/Silver could reach uo to 2500$/100$