Gold on the rise fellas!, page-2

FOMC to meet in 3 weeks time to end QE and possibly hint more strongly of future rate rises. The US rally is taking a respite, and will get going again. It would not surprise me if it headed up to the 95-100 level by the end of the year.

http://www.bloomberg.com/quote/DXY:CUR

In USDs the POG would plummet, even while we are in the seasonally strong period for gold, and that would crash the goldies on the NYSX and TSX. Consequently we would see lower HUI, GDX, GDXJ and the consequent selling down by the various PM funds, including GDX and GDXJ.

Even if the AUD POG stayed around its current level during that period our goldies would get hit as the fundies and foreign investors sell out of our market.

Plus next month BDR will release its quarterly report which I think will be poor. Short term only very good drilling results will lift the share price, ie if another duckhead deposit found

So it is hard to get tempted to buy BDR or other goldies despite a short term bounce.

loki (but I could be wrong, and gold may be about to head to da moon)