Quoted at MarketWatch on the Gold Price
Gold settles with weekly loss of almost 2%
Strong U.S. jobs report raises Fed taper prospects; metals miners gain
By Myra P. Saefong and Polya Lesova, MarketWatch
“The QE is so large, it is playing a major role in distorting both the stock market and market for physical gold,” said Edmund Moy, former director of the US Mint.
“QE has helped fuel and sustain an overheated stock market and the abandonment of gold derivatives in the United States and Europe,” he said in emailed comments. “The unintended consequence of QE is a market more influenced by the tapering timetable guessing game than the fundamentals like macroeconomic factors.”
Read the full piece at MarketWatch.com.
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