Sorry about that....
Gold is the “anti dollar” and that's why it is wildly popular now. As Zoellick put it, “Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.”
If any proof is needed of that statement, gold closed at records last Friday and Thursday but the precious metal has scored 17 record highs in less than five weeks in September and October. The latest string of records came after the Federal Reserve’s decision to start another round of U.S. bond buying, pumping out an inflationary additional $600 billion over eight months.
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