Gold is an important part of some frontier market economies (e.g. Tanzania). Gold is stubbonly at $800 an ounce, down 22% since its high of $1,030 on March 17. The weakness might be that inflation might be the next big scare. After all, every central bank is flooding the credit markets with liquidity. Printing money in this way always leads to inflation in either goods and services and/or assets.
Inflation: The price we pay will have to pay avoid deflation and a liquidity trap? Worth thinking about.