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dennyc
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>Why Isn’t Gold Higher?  - Rick Ackerman - 
If central banks are buying gold they will do everything in their power (and today their power is truly, yet unreasonably formidable) to keep the price down. When they finish buying gold then and only then will the price find its true value.

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Beginning of the headline :My colleague and erstwhile nemesis Gonzalo Lira posed the question above in a recent essay, and it is indeed a most puzzling one. Given that the world’s central banks — joined most recently by a shockingly reckless Switzerland — are waging all-out economic war by inflating their currencies, shouldn’t gold be soaring,? In fact, prices have continued to meander between $1500 and $1700 since September of 2011, when gold topped out at $1945 after a spectacular run-up from $728 in just three years... Read More
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