Gold pinned unsafe

Thursday, 25 August 2011 12:47

ZEW economic expectations for Switzerland have dropped for the fourth month in a row.  In the month of August, the indicator fell to -71.4; 12.5 lower to the prior month of July where the indicator was released at -58.9.

EUR/CHF is currently seen trading at 1.1450; with a day's high of 1.1495 and low of 1.1413.

The Euro is dropping against the U.S Dollar as the pair tumbled down from 1.4460 to 1.4415.  EUR/USD reached a high of 1.4474 and a low of 1.4389 in today's trading session so far. 

Gold is also seen spiraling downwards.  Record after record of peaking all-time highs, Gold has dropped very fast in the past few days to $1757 per ounce in yesterday trading session and even further to $1702 per ounce in today's trading session.