Bernanke calls gold overvalued. How does it keep moving higher?

[wilburbear]

http://www.reuters.com/article/idUSTRE65E5NH20100617?type=ousivMolt

 

[trefoil]

Interesting.
It's possible Bernanke, a mainstream Republican if ever there was one, is actually dumber than I thought possible.
That would be quite a feat.

 

[tmarket]

That is because Bernanke doesn't understand market psychology of the gold bug, who universally distrust anything that the Fed espouses. If Bernanke had said gold was undervalued there would be an instant crash in the gold market because the gold bug would think that Bernanke was pumping up the gold market so that the central banks could liquidate their gold position.

 

[ehorn]

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[1prometheus]

Bernanke says gold is overvalued? Who cares? He hardly has a sterling record with regards to forecasting. For example, he didn't see the current crisis until it mushroom tatooed him across the forehead.

http://www.youtube.com/watch?v=MnekzRuu8wo

 

[rcaldwell]

Confidence in fiat currencies is at a low ebb and joe public smells a rat. Not a thing Bernanke can do except "hope" the whole damn thing does not unravel under his tenure.