gold edging toward 1700 and aud nearing par, page-19

ECB meeting tonight looking v. positive for Gold...

"The smoke signals coming of the European Central Bank meeting indicate that the boys from Goldman Sachs – Italian Prime Minister Mario Monti and ECB chief Mario Draghi have achieved an incredible win. The Bundesbank has been routed.....
...In essence, the smoke signals suggest that Mario Draghi and his European Central Bank would under take a campaign to buy unlimited amounts of Spanish and Italian bonds to keep yields at a specified maximum level. To gain that status, both Italy and Spain have to undertake major reforms....
"


Reading Europe's smoke signals