Golden slope of hope
MarketWatch reports how sentiment influences gold’s short term markets after having US legislation pass the bill on the bail-out plan on Friday last week.
Take Friday, the day in which the much-vaunted Wall Street bailout legislation finally received Congressional approval. There is no reasonable doubt that this legislation will have significant long-term inflationary consequences.And yet, guess what happened on Friday to gold bullion, perhaps the most sensitive of inflation hedges? Far from rising, it fell — by more than $11 per ounce.
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Mon, Oct 6, 2008
Post by Melissa Pistilli, Gold Senior Reporter