US Fed cannot increase purchase of treasuries instead of MBS until the debt ceiling is raised or suspended again. It will eventually happen, despite gridlock in Congress, but maybe not until late October when the existing ceiling gets hit. So tapering will continue to be discussed over the next couple of months, but unlikely to be implemented. Looking good for gold in the short term at least.....
NCM Price at posting:
$24.49 Sentiment: None Disclosure: Held
