Tuesday, October 5, 2010
Currency War Fueling GOLD
Looks like the early news today about the Reserve Bank of Australia surprising everyone by leaving the cash rate alone, and the Bank of Japan cutting its key interest rate to a range of 0.1 to 0 has pushed gold higher.
Not much to add to this... we're in a currency war and gold is the barometer, regardless of what Strauss-Khan thinks. The markets aren't dumb. They're voting for gold as the only remaining currency worth anything.