gold, page-162

My theory is based on the gold price dropping when inflation did not emerge as anticipated.
Money flowed back into equities when it was obvious that the hedge against inflation was not required.
With the collapse in oil prices, inflationary pressures are being stored up which will be unleashed when the oil market turns. As oil supply is cut due to the price collapse,so the price will rise again.

More QE and a cut in interest rates will send a signal to the market that events have not unfolded as the Fed had planned. In short, that they have utterly failed. I contend that whatever form the QE takes, there will be an upside for gold, due to the markets loss of confidence in the Fed to dictate events.