To many non gold bugs, the current drop in the POG is confusing.
Conventional wisdom would seem to indicate that gold is either a safe haven or a hedge against inflation.
Bernanke's FOMC statement seems to indicate that QE3 will be progressively withdrawn over the next 12 months with the prospect of 0% interest rate for another year.
At present the liquidation of gold and flight to cash seems to be contrary to conventional wisdom.
Is there something happening that the mug public are not aware of?
I'd appreciate reasonable comment without the "fiat currency/bankster" jargon.
