Given that gold is often seen as a signal for inflation, what do you think the market expects to happen?
Update: Bill at CalculatedRISK suggested to me in an email conversation that perhaps inflation fears were a bit premature and that gold was not a good indicator of inflation any more. I suspect he may be right. I think inflation is a real possibility in the not too distant future, but right now it is very muted (if deflation is not actually happening).
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