Horsa, I think the CURRENT mood of the market is one of a steadily improving global economy, and an assumption that a recession caused by going over the fiscal cliff in the US will be avoided.
RIGHT NOW, nobody is thinking about the oodles of money being printed by central governments in the US, Japan etc.....doesn't mean they won't be thinking about it in the weeks and months ahead though.
Also, there is a line of thought that US holders of gold may be sellers prior to any increase in capital gains tax over there. This, you would think, would be contributing to the NEAR TERM pressure on the price of gold.
