buy time, page-146

Guys n Gals

Congrats and enjoy the bounce. There could be 10 cents in it for all I know.

But prepare yourself for a return of KingDollar when QE finally ends and especially as the ECB and Japan do even more QE - actually the ECB has yet to get off the ground but it has driven interest rates to incredibly low levels across the Eurozone. KingD will mean lower USD POG, and will be deflationary for the US economy. I am not expecting the US Fed to raise rates for a long time, but it will probably keep harking on about it thereby worrying the gold market.

I have a feeling that due to reasonable seasonal gold buying in Chindia the POG will probably hang around USD1280-1180 for the next 4 months before it finally takes its dive below USD1100 during the middle of 2015. On the other hand if the US economy sputters so will much of the rest of the world and gold will go down in a heap.

loki