Switzerland’s Currency Move Could Boost Gold
We asked last month:
Will Easing By The Swiss Central Bank Drive Investors to Gold As The Only Safe Haven?
HSBC’s head of foreign exchange strategy – David Bloom – says yes.
“Gold Is The Only Safe Haven”
Bloom told BBC last week:
The real beneficiary [of Swiss and Japanese easing] – which never complains, never prints itself – is gold.
And he told the Telegraph today:
The market must fear this will lead to a sharp escalation in currency wars. Gold is the only safe haven asset that will not do QE, put in capital controls or complain.
Note: We are not investment advisers and this should not be considered investment advice. Personally, many of us are long gold.