So Gold traders are nervous re Fed meet on Monday 21 and Tuesday 22nd and will discuss tapering the QE. If they decide to reduce QE (bond purchases) then interest rates will rise which is supposebly negative for Gold but the flip side is rates rising will put pressure/increase risk of defaults which is also positive for gold but would take time to eventuate. This is the only logical reason can think of for last nights sell off. Add to that the ovious elephant in the room (read Slanges post). Does this sound about right?
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