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Gold and euro stay coupled says rothschild { June 8 2005 } Original Source Link: (May no longer be active)    http://www.aireview.com/index.php?act=view&catid=8&id=2027 http://www.aireview.com/index.php?act=view&catid=8&id=2027 Decoupling Gold And Euro? June 08 2005 - Australasian Investment Review -- (AIR) With a gold price keen to jump on any USD weakness at a time when investors are seeing more troubles ahead for the euro, questions are being asked whether the time has come for both USD alternatives to de-couple. Precious metals experts at Rothschild are yet to be convinced that euro and gold will give up their close trading correlation from the past years, predicting that with further weakness for the European currency but a logic assumption, the euro is likely to weigh on further advance potential for gold bullion. At JP Morgan, where the commodities and forex team holds a long term bullish view towards gold, short term confusion reigns about the direction of gold and the euro. The price action of bullion over the last couple of days has been "interesting", the team remarks, as gold not only held over its key US$412-409/oz technical support zone, but the metal has now potentially rallied in five waves suggesting that after a pause/pullback another run higher to at least trend line resistance should be seen. This would suggest gold could possibly jump back towards US$430/oz and beyond. The problem with this scenario, however, is that it goes against JP Morgan’s current view on the euro. The team promises to keep a close eye on gold and the FX market predicting either gold is going to come crashing down or their view on the euro is simply wrong. UBS believes the recent rally seen in gold has primarily been driven by speculative short covering on Comex. Although it is impossible to accurately gauge how many of these positions have been bought back, the broker’s precious metals experts suspect there is another 3-4 million ounces of short positions that were initiated in May and that are still vulnerable to short covering. UBS believes there should be plenty of stop losses up to US$430-432/oz, with many likely to be positioned at US$427.50/oz, as that is the 200 day moving average for the metal. Looking beyond the short-covering rally, the broker believes gold may struggle to hold onto levels north of US$430/oz (EUR445/oz) as physical demand is expected to slow ahead of the monsoon in India. UBS would therefore recommend riding the rally in gold a little higher while keeping an eye for opportunities to take profits within the next week or two. Copyright Australasian Investment Review. AIR publishes a weekly magazine. Subscriptions are free at www.aireview.com

Berlusconi says euro strangling economy Blair destroy euro support { May 10 2003 } Blair push euro referendum { May 16 2003 } Brussels considers imposing currency controls Capt.1052747314.euro_rally_fra109 [jpg] Central banks buying euros instead of dollars { February 2007 } Central banks may buy euro over dollar Cocaine found most euro notes Death 12 nationstates [jpg] Death 12 nationstates { January 2 2002 } Death12 nation states [jpg] Dollar below euro Dollar hits lows vs euro and pound { June 2007 } Dollar loses on euro on ecb rate hike { March 2 2006 } Ecb declines to act on relentless euro { January 9 2004 } ECB hikes rates to 5yr high { March 8 2007 } Ecb limit sales of gold reserves { March 8 2004 } Ecb looks to inflation data { March 7 2004 } Eu bank pressures asia currency rise against dollar { July 5 2003 } EU says bush tax cut endangers world { February 23 2003 } Euro ad [jpg] Euro displaces dollar as preferred bond currency { January 14 2007 } Euro drops because closed US markets dont crash { December 2008 } Euro drops to lowest on french treaty rejection Euro facing major test { September 24 2003 } Euro fresh highs { May 9 2003 } Euro gains after euro pres suggests interest hikes { November 21 2005 } Euro governance { May 23 2001 } Euro hits high Euro is launched { January 2 2002 } Euro world reserves gain on dollar reserves { December 30 2007 } Europe concerns over euro rise Europe unlikely to win agreement halting euro surge France calls on eu to improve ties with china France defies eu rules France in vigilance plea on falling dollar { November 27 2006 } France is top overseas investor in 2005 { June 28 2006 } France questioned by eu partners France wants more currency than eu allows French german leaders agree to bce independence Gold and euro stay coupled says rothschild { June 8 2005 } Gold drops when euro weakens Italy minister says euro should be dropped Lack of control fiscal policy { January 2 2002 } Must support euro { April 22 2003 } Never single currency { May 23 2001 } New all time high against dollar Poll decide euro future { January 5 2002 } Russia may switch foreign exchange reserves into euros { November 23 2004 } Russia pricing oil sales in euros Sweden barely rejects euro { September 14 2003 } Sweden euro poll clash after lindhs death { September 10 2003 } Threatens euro bank { January 5 2003 } Time for europe to defend itself Uk not ready for euro { May 15 2003 } UN report says eu japan will pass US economy { August 2007 } US dollar makes gains on euro Files Listed: 57

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