Jul. 14 2011 — 2:59 pm
Ben Bernanke Spikes Gold Prices
Just the very hint of a QE3 spiked gold to a new record peak price as it closed in on $1600 an ounce. What a Pavlovian reaction; more money supply created equals more money into gold. It’s like shooting ducks in a barrel. Just about a sure thing.
The rule of thumb is as follows; more quantitative easing means more downward pressure on the dollar– which means more upward pressure on gold.
http://blogs.forbes.com/robertlenzner/
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