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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: NOW who wrote (250265)7/16/2003 1:10:23 AM
From: Perspective  Read Replies (3) of 436258
 
It may indicate that a much larger group of speculators than I would have guessed were actually buying gold and bonds in unison based upon the Bernanke Put - expecting monetization of debt through direct bond purchases and resulting dollar weakness and inflation in basic materials and gold. The removal of the Bernanke Put could be responsible for dollar strength, bond weakness, and gold weakness all at the same time.

I would add that this is all shorter term noise. The truth is that economic weakness is about to reassert itself in a big way, which will temporarily weaken gold, but we can already bet on the monetary response, and the ultimate impact on the dollar and gold.

BC
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