from Gold Silver Worlds:
The intuitive response on the question what the link is between gold and QE is that QE (or “money printing”) is devaluing money and, consequently, appreciating the value of gold. That correlation became clear during the first two rounds of QE when the gold price more than doubled in dollar and euro terms in some 3 years and silver went three times higher.
However, QE3 resulted in the opposite effect. The chart shows how prices of key assets (stocks, bonds, commodities, gold) evolved between the start of QE3 and the start of tapering.
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