"Have We Reached The Breaking Point?", page-24

In the absence of any real direction gold getting gradually ground down, although seems to be strong support so far at the 1,100.

In my mind the likelihood of a rate hike next week is virtually zero. Question is whether fed will give strong indication of a hike later in the year, or be more ambivalent in their guidance. The former could kick support from under gold's feet, whereas latter could propel it towards 1,180 in a short period of time