socialmedian: Luschini: Gold now a surrogate for the dollar

User-submitted headlines for this story

Clip

Luschini: Gold now a surrogate for the dollar

Source: Wall Street Journal

Nov 04, 2009

Summary

The gold rush is back on. The price of gold is rising to new highs, and Mark Luschini, the chief investment strategist at Janney Montgomery Scott, sees this as a symptom of the dollar's falling value, not a hedge against inflation. "The dollar is somewhat under siege, and countries are using gold as a surrogate, almost supplanting the dollar's role as the world currency," says Luschini. As for the stock market, Luschini says two things can keep the market rising into year-end: the improving economy, and the money sitting on the sidelines.