Hey Winmore,Thanks for a great summery of the article. I also...

Hey Winmore,

Thanks for a great summery of the article. I also just noted the MBA mortgage application have just come in - hot off the presses so to speak.

Last month was -5.6%
This month ...drum roll please...a massive turn around figure of 9.7%.

This means inflation and also will impact economies trickling to gold prices in my humble opinion. When reserve bank rates stop too early, history suggests inflation grows even faster out of control. It is akin to a Px only taking half a script of antibiotic. the infection invariably returns with greater intensity.

While in the short term, this may suggest Au prices will decline, once the recession and accompanied correction occurs, Au will rise like the proverbial phoenix as people look to go to the safety of the yellow stuff.