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Posted by
Two Blokes May 24 -
Filed in
Stock
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The recent U.S. credit rating downgrade will likely have long-lasting effects on the dollar, making both GLD and IAU attractive. A weakening dollar and potential erosion of its reserve currency status could drive up gold prices as long as gold is priced in dollars. The downgrade could also encourage other countries to diversify their reserves away from the dollar and toward gold.
