Thursday, April 21, 2011

Soaring gold prices, investors losing confidence in dollar

The Pakistan Economy Watch (PEW) on Thursday said unprecedented hike in gold and silver prices suggests that investors have lost some faith in weaker US dollar.

The development also hints at lack of confidence among investors in America’s political and economic system as well as capabilities of leaders.

Such developments can be attributed to the flawed US policy of ‘spend and borrow,’ said Dr. Murtaza Mughal, President Pakistan Economy Watch (PEW).

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