Traders Are Greatly Rotating From USD To Gold

Submitted by Tyler Durden on 09/27/2013 08:29 -0400

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It would appear that between the fears of a government shutdown and the battle over the 'full faith and credit' of the US, traders have decided that the stroke-of-midnight agreement is potentially less viable this time as both parties feel the other has more to lose. The USD is being sold against all majors and gold, silver, and WTI crude is well bid as investors seek the safety of hard assets over printable fiat. Of course, that could all change on the next economic data or Washington headline... buckle up...


EUR is nearing 8-month highs at 1.3550 as the USD Index presses down to near 7 months lows.


Charts: Bloomberg