But don't they have different plans A41? Sorry mate couldn't resist.
Well what is coincidental is the USD is strengthening across the board & gold is pretty much stable in currency terms. Yes there has been shorting of gold, however there would have also been shorting of currencies. The whole market has pretty much a one way bet on the dollar at the moment & after years of flow out of the USD chasing yield, its going to take a while for that massive flow to shake out.
I really don't think there is much more to it than that.
If there was, gold would also be much lower in currency terms & its not.
In saying all that the physical demand season has only just started, so this should start lending support & the gold shorts will need to cover at some point.
My bet is we will see a base form around mid October, unless something else sparks a short covering rally earlier.
