The Phaserl


Bernanke Speaks; Gold Clocked

from Dan Norcini:

The caption says it all – once the FOMC statement was released, followed by some comments from Fed Chairman Bernanke, that was all she wrote for gold. Down, down and down it went as the Dollar went up, up and up.

What the market is currently thinking is that if there is any nation where interest rates are going to rise, it will be in the US before it is anywhere else on the planet.

You combine that with equity markets that promise attractive gains, and large sums of money are moving out of their respective currencies and exchanging into US Dollars with which to buy US equities.

As the Dollar moves higher, gold is moving lower.

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4 comments to Bernanke Speaks; Gold Clocked

  • Newfie

    I predicted a while back that it could go as low as $18 (Silver). The math just never adds up, and I see mines stopping production….they won’t have a choice. It’s like firemen coming to put out a fire with GASOLINE, and succeeding. Things are way out of whack and just don’t add up. Currencies are hyper inflated, they say stocks are up, but every one I look at are DOWN at least 30% over the past year. Food prices are inflated, wars everywhere, and PM’s dropping like a stone despite demand going through the roof VS SUPPLY. All the great think tanks out their don’t even have a clue.

  • Newfie

    Just broke below $20. Who would have imagined that 2 years ago?

  • Newfie – Stock index futures are manipulated much easier than the whole. The public is trained to watch these indexes. Keep stacking these pm’s they are at K-Mart blue light special levels. Things are worse out there not better.

  • Glitter 1

    The Dollar is headed for/in the fight for it’s life.With the introduction of the BRICS and the Petro-Dollar dying,we are witnessing the beginning of the Dollar Death Struggle.You think TPTB would just rollover and let the Beast go/die quietly into the night!

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