There's been no relationship between gold and QE
Whereas there has been a very strong relationship between QE and stocks
So if we see QE4 stocks will continue to defy gravity and they will only do QE4 if deflation presents a risk in which case gold will not benefit
Having said that the gold chart is looking like it's set up for a big move up just like China's index was last year
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Gold – the final bubble, page-4507
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