Interesting to see that USPOG has recovered from the jobs data figures. Everyone seems to thing that the US and the taper is the only game on town but the POG is up about 3% and has just rocketed due to Chinese inflation figures.
Macrobusiness points out that they've had strong CPI with simultaneous deflation in the manufacturing sector. I wonder if the idea that you can have "inflation and deflation at the same time" is about to be an emergent meme.
In the meantime, POG off the lows, oz dollar gradually falling and abu about to produce off what should be a low cost base.
higher low?, page-4
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