more downside expected, page-77

Since US Fed started QE a few years, US currency has devalued a lot and other countries has reduced the speed of purchasing US debt. After nearly 5 years, Fed needs more capital flow into USA and keeps the inflation rate lower. It starts naked short selling more Gold than it actually owns at the beginning of this year. The purpose is to push investors throw more money into USA obliviously.

Even it is not enough, it starts QE tapering talk but without setting any time frame or specific conditions. This "hypothetical" talk bring the POG even lower. Many traders know the story behind that but "choose" to follow the market sentiment since they can make profits from it.

POG will go up again eventually probably after QE really "taper". But I really doubt it is another story made by US Fed to strength US currency while keep printing more notes.