Excerpt from: Financial Spread Betting Strategies
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| February 13, 2007 | | Financial spread betting strategy: favour gold for now | Favouring gold for now may be a good financial spread betting strategy as it rebounds in New York on the fact that the U.S. dollar is declining against the Euro on the FX market. Placing spread bets on gold prices should consider this information from Bloomberg:
Gold generally moves in the opposite direction of the dollar,
which fell against the euro on speculation Europe will raise
interest rates faster than the U.S. Gold gained 23 percent last
year, while the dollar fell 10 percent against the euro.
``We're seeing some real weakness in the dollar, and that
makes me very bullish on gold,'' said Matt McKinney, a commodity
broker at Infinity Brokerage Services in Chicago. ``I'm looking
for gold to catapult to $700 within three months.'' | | |
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