gold, page-158

This is only half the story and incorrect.

QE3, the biggest in history was put into effect in september 2012 and doubled december 2012, coinciding with the peak in gold.

Since QE3 started, gold has fallen. Since rates have risen in the US this year, gold has gone up.

that's simple fact.

EDIT: now I'm not saying the two are related or that is always the case, I am simply saying your assumption about further QE or rate decreases is purely unfounded. Your theory of price drivers in gold are unsupported.