If concerns about the devaluing of U.S. currency weren’t already fully apparent

If concerns about the devaluing of U.S. currency weren’t already fully apparent, after the roll-out of QE Infinity, then Chicago Fed Chairman, Charles Evans’ rhetoric on Monday served as the bolding, italicizing and highlighting of the monster otherwise known as Inflation. The non-voting member of the Fed expressed his belief that the Fed can take even further measures to boost growth in the currently sluggish U.S. economy. Evan’s words were enough for gold to breach $1790, leaving many scratching their heads. However, the yellow metal came under some pressure as markets realized that Evans’ epiphany wasn’t exactly a new revelation and Chairman Bernanke’s comments, later in the day, offered nothing new either. Gold is currently trading around $1779. Today, European market focus remains on Spain as a Moody’s assessment of Spain’s banking sector has many believing it’s a question of “when” rather than “if” the indebted country will take a bailout. U.S. markets received support following a strong reading from the Institute of Supply Management’s index that came in at 51.5, indicating the manufacturing sector in the U.S. has bucked the three-month trend of contraction. Today will bring about U.S. auto sales data for the month of September while the focus will shift to Jobs for the last half of the week. The stand-off between Anglo and striking miners at the company’s Rustenburg operation continues to support the PGM complex. Anglo says attendance at the mine remains below 20% and that striking miners had until today to appear for disciplinary hearings or face dismissal. Platinum is currently trading at $1682…up roughly $20 from Monday’s open. Have a great day!