The Gold and Inflation Peg is Wrong - Equidea, page-6

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Skol

33,777 Posts.

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28/09/21

13:53

Post #: 56404853
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Originally posted by onway8: ↑

Gold can be easily shorted down 2+% within one session but you will hardly find a session in which gold was up 2% - nearly none of a session is up 2% during the last 12 months. Gold miners are in a big down trend also.

But inflation is going through the roof.

Sydney's house (with land) price is shooting up 10 thousand dollars per week during Covid and is still going up.

Federal Reserve Chair Jerome Powell this morning (28/09/21) warned inflationary pressures were likely to persist longer than the central bank originally anticipated.“Inflation is elevated and will likely remain so in coming months before moderating,” Powell said in prepared remarks to be delivered tonight. “As the economy continues to reopen and spending rebounds, we are seeing upward pressure on prices, particularly due to supply bottlenecks in some sectors. "These effects have been larger and longer lasting than anticipated, but they will abate, and as they do, inflation is expected to drop back toward our longer-run 2 percent goal.”

But Powell doesn't like to see gold is up as he doesn't want to be named as a loser. Central banks want to depress gold.

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But Powell doesn't like to see gold is up as he doesn't want to be named as a loser. Central banks want to depress gold.
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Powell and the Federal Reserve couldn't care less about the price of gold. Why would they?

They don't own any. They care more about house prices and the stock market, not a metal that has no utility.

Last edited by Skol: 28/09/21
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The Gold and Inflation Peg is Wrong - Equidea, page-6

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