When the Fed finally followed the market in lowering rates, the market made the Fed look even more foolish by starting its decline in bonds the day before the Fed announcement.
The U.S. dollar's strength this past week has kept gold prices steady in dollar terms, while gold continues to rally when priced in most other major currencies.
Our Gold Scoreboard shows, by Dollar debasement (even as adjusted to the creeping increase in the supply of Gold itself), gold “ought be” fetching $3,741/oz.
