Gold At $1600, Recoupling With Stocks Post QE2

02/15/2013

The media appears to be gorging on the 2% drop today in Gold and 11% drop in the last 4 months. Gold's demise today appears triggered by JPY's dump at around 8amET - though longer-term, it appears gold and stocks are recoupling in the reflation trade from around the start of QE2. At $1600, gold is back at August 2012 levels but +134% from the 2008 Lehman 'event'.

Charts: Bloomberg