Bernanke Ruminates On "Incomprehensible" Gold Prices

One of the better exchanges today, discussing a topic near and dear to Bernanke's heart - gold:

  • BERNANKE SAYS GOLD `IS AN UNUSUAL ASSET'
  • BERNANKE SAYS SOME SEE GOLD AS DISASTER INSURANCE
  • BERNANKE SAYS `NOBODY REALLY UNDERSTANDS GOLD PRICES'
  • BERNANKE: GOLD MAY BE LOWER ON LESS CONCERN OF EXTREME OUTCOMES

Or, even simpler, gold may be lower on more paper gold sellers than paper buyers. In the meantime, gold continues to be in backwardation, but that too "nobody really understands" Bernanke would likely attest.