Barron's: You've been right on the price of gold all the way up.
Turk: The theme has been correct. There are problems with the dollar, and that's being reflected in a higher gold price. So, truth be told, it's not that gold is going higher -- it's that the dollar is going lower. An ounce of gold still purchases as much crude oil, essentially as it did 50 years ago, but that can't be said about dollars.
One of your gold indicators, the "fear index," is based on M-3 numbers, but the government has stopped reporting M-3.
Thursday, June 01, 2006
Posted by Vijaychandran Veerachandran at 10:04 AM