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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: stsimon who wrote (74229)9/22/2000 12:56:36 PM
From: Archie Meeties  Read Replies (1) of 95453
 
Have the past rate hikes slowed demand from Asia?

Rising energy costs will translate into general price inflation, which as you say, will be fought by rates hikes.

It's not a forgone conclusion that another rate hike is harmful for gold - it might be just the opposite if it can not slow commodity driven inflation. As I said, no number of rate hikes can reverse the price of oil until it translates into a reduction in demand.

We're a long way from that happening, but not a long way from a situation where inflation exceeds growth - which is the most bullish scenario for gold. Looked at the JOC-ERCI data recently? We're exactly at the same inflation rate as *before* AG started raising rates - because it's commodity driven inflation over which AG has little control over.
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