Loading ...Gold hit 1120 an ounce today while the S&P staggered at 1097. It looks like for the market to head higher, the dollar has to continue to fall. The issue now is that the affect of a falling dollar on the equity market is less than the affect of the falling dollar on the commodity market. This is a clear sign of inflation and the necessity of rate increases in the future. However, issues with other foreign currencies, AKA the YEN, might actually support the dollar rapid decline. Apparently, Japan is having troubles paying back the interest in their debts and is close to defaulting.
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