"The good news for the price of gold is that even though the safe-haven appeal for gold has hit a plateau for now, future inflation fear is building as investors believe the U.S. and global economies have bottomed, " says Scott Nystrom, editor of the Gold Stock Strategist newsletter.
Those who now fear inflation is set to run riot believe gold is the only place to invest.
The low bond yield signals no fear of inflation, but the high gold price signals the opposite.
Also, fear of inflation has caused a higher percentage of fixed investment to be directed into housing.
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This transformation of money into a hot potato would, by itself, produce the inflation that everyone would fear.
One reason banks are not lending is that they fear high inflation in the wake of an economic recovery.
For now, he is Mr Stability: unless Brazilians lose their fear of inflation, his chances in October will remain strong.
The fear of inflation would, in turn, prompt everyone to get and spend their money as fast as possible before prices rise.
Fear of inflation is pervasive, the Chinese raising interest rates several notches these past months with inflation there running close to 5 percent.
It's the fear of inflation that's keeping these commodities up.
If joy at higher growth or fear of inflation do not justify higher bond yields, is there not a risk that the bond market might cause the recovery to stall?
But now economists and the European Central bank fear that inflation could be sent even higher by rising wages, as workers demand to be compensated for the spiralling cost of living.
In addition, the gold rush appears to have ended, networkers are so last year, commodities are on the run, the dollar is in decline, and yet the fear of inflation (in the emerging markets, that is) is cited daily as a reason for market weakness.
It has promised to supply liquidity if needed, but it will not want to produce huge amounts for fear of sparking inflation.
The rate-setters' fear was that inflation would persist if firms and households used today's rate as a benchmark for future wages and prices.
He cannot loosen the purse strings for fear of prompting inflation.
Inflation became the next great fear to drive investors to gold.
Since the ECB has a strict remit to maintain price stability, its dread of high inflation is greater than its fear of recession: hence the rate rise.
Mr Obasanjo refused to sign it, for fear of stoking inflation and irking Nigeria's foreign creditors, whom he is trying to persuade to write off some of the country's debts.
But some still fear more general inflation.
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Instead, they rose, pushing down long-term interest rates, a signal that investors fear recession more than inflation.
It explains their resistance to cutting interest rates to boost the eurozone economy, because they fear it would let the inflation genie out of the bottle.
Inflation can only decline so far before the fear of deflation takes over.
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Gold bugs are buying bullion for the understandable reason that central banks appear committed to printing more money: they fear that eventually this will lead to inflation.
Bernanke's actions recall those of the Fed during the early years of the Depression, when our central bank wouldn't ease in the face of a catastrophic contraction for fear of igniting a German-style inflation.
But the Germans, for the moment, will not allow the bank to play that role because they fear a repeat of history - the inflation of the Weimar Republic and all that flowed from it.
With wheat, corn, and soybean prices going haywire, many fear a new phase of rampant food inflation, but analysts at Barclays suggest it will be more moderate than expected, feeding through to consumers gradually and with a relatively long lag.
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But that cheap dollar policy actually only discourages the investment in America essential to getting the economy booming, as investors fear lower returns from a declining dollar, inflation, and the boom and bust cycles that such policies cause.
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The fear is that this might lead to higher inflation, and that the government's demand for funds will push up interest rates, crowd out private investment, weaken the financial system and leave the economy vulnerable if hit by a big macroeconomic shock.
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