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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 414.48+0.7%Jan 9 4:00 PM EST
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To: Condor who wrote (21109)8/12/2007 12:18:53 PM
From: elmatador  Read Replies (1) of 219208
 
Gold price is murky: Inflation rate of gold mining industry props Gold price. gold mining industry's current 17% inflation rate.

USD trends props gold price. Central banks are a cartel that control gold sales via Central bank Gold Agreement.

Today's price reflect that Central bank Gold Agreement if not for it gold would have gone below 250 in 1999. Would you trust your wealth to a bunch of central bankers who discuss behind closed doors and keep mum about what they want to do with Gold?

If gold is bought by Central Banks, as reserves, that would prop up gold price beyond inflation of mining industry. But they would need to sell their currencies' reserves. That means they would send down the value of the currency reserves that they already have.
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