Are Gold And Oil Signaling QE3 Coming?

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Includes: GLD, OIL
by: TraderMark

Last Friday, Jon Hilsenrath reported in the Wall Street Journal the Fed is considering more purchases of mortgage backed securities. Between Friday and Tuesday there have been two Fed officials who have mentioned more purchases of assets as a potential next step. Yesterday, we saw some very interesting action in gold and oil even as it was a "risk off" day. Are we beginning a new run of commodity inflation as The Bernank prepares to dump more fiat dollars onto the globe? It sure is interesting to see both these commodities 'break out'.

(Click charts to expand)

Disclosure: No positions

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