It is very likely that the Syria war was going to be used as the reason to not taper. Putin came out and snookered team Obama. Assuming the war is off the table (big assumption and not a certainty) what excuse can they use to avoid taper ? So perhaps we need a war or some disaster. Watch out!
Where's your evidence that the Fed possibility of tapering is the cause of this current dip? You can't just say because you think so. There are many other reasons why the price would go down or up. Besides, even if there was always a correlation between talk of tapering and price drop (which there isn't) it would only be a correlation, not a causation. Spot price drop and rise isn't caused by Fed tapering talks and those talks don't even have a predictable or measurable influence on spot price. As for when and what I buy, that is always fluid. I don't trap myself into predetermined markers because I don't have a crystal ball which can always accurately tell me the spot price and the market direction tomorrow or in the future. I have learned that I am unable to predictably forecast spot price and I have seen and heard of no one in the world to date who can. .
^ you know we are not in school here are we. People should be able to air their opinions because they think so. That's just my opinion of course, have a jubbly weekend.
Well back above $1320.. ..Smack down reversal. Although $1320 was breached it was pretty minor and short lived. The weekly close is likely to be north of $1320 unless another smack down occurs. If you believe in taper or not next week is the test.
I repeat what I said earlier - how much more evidence do you want? Gold has tanked because traders think the Fed will taper. That's it. It's really that simple. And yes, gold has been largely supported by free Fed money printing. If you don't understand that then I wouldn't invest in anything, let someone else do it for you. Of course there other minor influences at the moment (Syria), but the big moves you are now witnessing are as a direct result of taper talk. Oh look, gold down another $16 today...
You also now have a huge spike because they DIDN'T taper...pretty tedious environment for PM's with the constant threat of tapering hanging over the metal's heads, resulting in moves of $50 to $100 on the possibility they MIGHT reduce the tapering by a measly $10B...
If they taper or not at some stage in the future... it will still blow up in there faces. I think when the rest of the world and the general market realizes this its all over rover. Basically I think they are running on borrowed time and this inability to taper further proves it. The petrodollar will fall. What happens next is the scary part.
If you haven't listened to this weekend's financialsense webcast, Louise Yamada is welcomed at 14m20s and spends a few minutes discussing gold starting at 27m into the talk Louise still lukewarm if not negative on Gold. New long term bear market in treasury bonds looks confirmed USA Equities looks to have emerged from a 13 year 'structural' bear market into a structural bull market. This is bad for gold as her perspective of the Equities:Gold ratio is that gold does not do well against an equities structural bull. Sideways for gold would be healthiest, but does not rule out another rally to ~1500 or so, where she plainly expects gold to fail against 2 year resistance http://www.financialsensenewshour.com/broadcast/fsn2013-0921-1.mp3 "Jim welcomes back Louise Yamada CMT, Managing Director of Louise Yamada Technical Research Advisors in New York. As all the major indexes have now surpassed the 2007 highs, Louise believes the structural bear market of the last 13 years has now become a structural bull market. She sees gold as likely remaining in a trading range. Louise believes the long 32-year bull market in bonds is over, and notes that equities can rise along with rising interest rates."
