Gold definatley has QE3 built into the price. The market has got QE3 wrong every time since QE2 finished and it has got it wrong this time as well. Gold will be affected when Bernanke disappoints on Friday night at Jackson Hole.
I believe Gold falling last night is an indication that the market is starting to rethink QE3 and taking some bets off the table.
billionaire's 44% of assets now in gold assets, page-49
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