Economist and former banker Alasdair Macleod writes today that Middle Eastern oil exporters are likely to turn away from the U.S. dollar and toward Europe and Asia as the United States reduces its purchases of oil from abroad. Whether those oil exporters put more of their foreign exchange surpluses into gold, Macleod writes, may have as much impact on the gold and currency markets as what China does. His commentary is headlined "Arab Gold" and it's posted at his Internet site, Finance and Economics, here:
http://www.financeandeconomics.org/arab-gold/
