It was reported by the Financial Times that the US Dollar is losing status as a Safe-Haven currency. While the Yen & Swiss Franc continue to have investors flocking to them during this current unrest in the Middle East. The Dollar is showing signs that the rest of the world is uncertain of Bernanke & the Fed’s lack of credibility on inflation.
As the Fed continues to lose credibility in the global community the US Dollar will continue to suffer. This will further bring pressure against any recovery for the economy.
All of this is adding to the increased price of gold & silver. Silver is now at a 31 year high at $34.47 an ounce bringing an 11% increase in the first 2 months of 2011. Gold has returned to the highs realized in Dec 2010.
To read more about the Dollars Decline go to: Currencies: Dollar Losing Safe Haven Appeal