if the US Fed blinks, and they will I expect given what is going on in Europe, gold will have to reflect the real depreciation in the global currency. to what levels - it's beyond XL ball gazing now except materially upwards. Gold was c. $200/0z in 2003 and the GFC was allowed to happen. this time around it might not be able to play out, so huge potential upside for US$Au in my view.
Out of left field, page-8
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