In his press conference on April 27, 2011, Federal Reserve Chairman Bernanke dismissed inflation worries, stating that “Our expectation is that inflation will come down and towards a more normal level”. Should we believe him? Not if you want to preserve your wealth and here’s why.
Chairman Bernanke has a perfect record of making [...]
(Bloomberg) Gold may gain for the first time in three days in New York as physical buying and concern about Europe’s debt boosts demand for the metal. European finance officials endorsed a bailout for Portugal as Luxembourg Prime Minister Jean-Claude Juncker said the region’s ministers floated the idea of extending Greece’s debt- repayment schedule. [...]
Gold held close to the previous session’s near three-week high on Wednesday, supported by an increased focus on inflation after China’s second interest rate hike in six weeks and residual interest in the metal as a haven. Spot gold was bid at $1,362.70 an ounce at 15:33 SA time, against $1,363.59 late in New York [...]
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