North Korea should be important to the price of gold unless...

North Korea should be important to the price of gold unless something more important keeps it down.

POG is influenced by many factors: Especulation, Physical demand, demand for asset safety amongst other.

There are divided thoughts whether gold is cheap or expensive within historic terms. In the long term Gold will go up, no doubt, it always has. But especulation and interest rates fears are what have brought it up so quicly this year. And that made it overbought.

With oil at this price, further especulation is not credible, and inflation can only go down at this stage. The only factor we have to bring it up is physical demand, which should be at the year peak next month. Gold is still high compared to a year ago, so demand might not be as high as last year and this could help gold further down. Or not? Supply vs Demand.
Oil producers have just agreed to not increase oil production in advance of the N Hemisphere winter season as they normally do. But the oil producers association only produces 40% of the world oil, and US are overstocked. And world governments will surely reject this decision, specially european ones. As could bring Euro down against dollar.

I am still to find out how can gold possibly go back up to the mid 600's in less than 3 months, which is when CTO thrives madly.

Or how can CTO go mad without gp support...

Too many unanswered questions for me to go and buy right now.
This is only an amateur conclusion though...

cheers.