I agree with your sentiment there. At the moment with decreasing...

I agree with your sentiment there.

At the moment with decreasing USD liquidity revolving around the Feds balance sheet run off and the subsequent problems in EM, gold likely to head lower before it heads higher.

I wouldnt be surprised to see a 10 handle on POG if the USD strength / Em feedback loop continues.

In saying that (I have no evidence that he will) if Powell wakes up and realizes that balance sheet run off must pause in order to avoid a global USD liquidity crisis, which will start at the edges and screw everything on it's way to DMs and US, it would make sense for USD to weaken immediately and PoG to rebound violently.

Interesting times indeed. I have closed all my positions in anticipation for the next FOMC meeting and minutes.