The notion that gold is more expensive than ever happens to fit with a larger narrative that also does not square with the facts - namely, that inflation is an imminent threat.

黄金价格比从前更加昂贵的观念适用于没有考虑通货膨胀的更宽泛的概念——而实际上，通货膨胀是近在眼前的威胁。

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He supposes that the central bank wants to minimise the weighted sum of the square of the inflation gap and the square of the output gap.

ECONOMIST: The message is the medium-term

Given his statements that gold is an obsolete, if not destructive, guide to monetary policy, Bernanke is not likely to recognize the inflation problem until it hits him--and the economy--square in the face.

FORBES: Fact and Comment