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The Deflation/Inflation Conumdrum

Gold was bound to rise once the selling abated . . . and each day it remains in $800+ territory, the technical picture and the yellow metal's good fortunes improve. ...

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More on Gold Lending

Our last Gold Brief (Gold Plunges – What’s Going On, October 16) generated much interest and questions about the mechanics of gold lending.  In that piece, we suggested the recent breakdown in the price of gold was much more a reflection of stepped up central bank lending of gold -- and much less a result of actual central bank gold sales or liquidation of long futures positions by hedge funds and other large-scale speculators, both of which seem to have grabbed all of the credit among gold analysts and the financial press. Central banks, eager to earn a small return on their official ...

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