Greece in default - dollar stronger - gold cheaper

S&P has stated that Greece is essentially now in default, thus putting pressure on the Euro and consequently making the greenback stronger.
IMHO Greece is just the first domino of the PIIGS countries to fail.
Normally that would signal a bull market in gold but the flight to the dollar will keep PMs affordable for Americans in the short term.

 

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Not much the creditors can do about it unless the Germans roll the tanks into that country again. Memories are very long.

 

Read a blip on conflation website that India is working on an arrangement to pay Iran in gold for oil. Such a deal could offset some of the Greece effect.

 

You might have missed the news, I started a topic on it here, that the western banking interests have moved to prevent Iran from having gold trades.

 

Quite ironic who would have thought the dollar would getting stronger inspite of S&P downgrade. Anyone else into Forex who had any trades that benefited from this move?