Korea is not important to the POG, only because they do not...

Korea is not important to the POG, only because they do not produce oil. Tensions in the middle east are what produce pressure of the price of oil and then gold, which follows oil. Have a look at the gold chart for 9/11 2001 - it barely budged, yet Katrina, which knocked around the oil rigs in the gulf had a huge effect. Yes the yanks are trying to put a lid on it till election time, however its really the Iran situation that jacks up the oil / gold price because of the threat of a full scale war. Have a good read of posts on the GOLD thread here at HC, especially the really long winded one by sandalathon yesterday - it takes some reading but explains the Iran situation well, weather or not you believe, it the world Gold market does (IMO). You'll also see that there are virtually unlimited fundamental factors driving the POG and manipulating it at present, which is why it is presently low.

You can expect the yanks & Iran to be very quite until November, however the medium to long term predictions for gold are all north, especially while they (yanks) print money to pay for their debt. I wish I could print more money to buy more CTO... I'm working on it. With Korea, read some of the Korean websites:

http://english.chosun.com/w21data/html/news/200606/200606210021.html,

Its a good one with I guess the Korean version in english, if you believe it, or anything you read nowadays. While they bicker the POG will (IMO) remain relative, to what, your guess.



Cheers.