Gold and the Dollar (and the Euro, Pound, and Yen)

Usually, gold and the Dollar are negatively related; when the Dollar price of gold increases, the Dollar depreciates against other currencies. This is intuitively puzzling because it seems to suggest that gold prices are associated with appreciation in other currencies. Why should the Dollar be different? We show here that there is actually no puzzle. The price of gold can be associated with currency depreciation in every country. The Dollar price of gold can be related to Dollar depreciation and the Euro (Pound, Yen) price of gold can be related to Euro (Pound, Yen) depreciation. Indeed, this is usually the case empirically.     

第一桶金与黄金雨

荣海(西安海星科技集团)--以其持有的上市企业海星科技公司30%的股份计算,荣海拥有1.7亿美元财产,进入2000年美国《福布斯》杂志《中国富豪排行榜》第17位.2001年,荣海在美国《福布斯》杂志《中国富豪排行榜》上的位置上升至第12位.