We need the fed to start tappering.POG AND USD are range bound until the fed actually moves. Will cause an initial shock and higher USD I am hoping about 1.00 to 1.03 max on the dx. Then market forces can come back. Tapering is actually bearish for the USD and bullish for gold long term. Gov buying of bonds traps dollars in the Finance system so tappering should actually work.. to push down the dollar. Also US huge trade deficit shold put downward pressure on the dollar. After tappering is anounced will set up the perfect scenerio for gold. A high USD that is trending down. IMO the US is trying to goose the USD as high as possible before it starts to fall by letting everyone else taper first. Short term though expect some pain due to higher USD and lower POG.
RRL Price at posting:
$1.96 Sentiment: Hold Disclosure: Held
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