Originally Posted by
Skol
There'll probably be no QE3, retail sales were much better than expected when the numbers were released Monday. Any more good data could finish QE forever.
There's been lower oil prices, a rising USD, gold's correlation with stocks, better than expected European figures, gold stocks in the doldrums, the approaching 'death cross' (50d EMA crossing the 200d EMA) and a stagnant gold price more than likely means the gold boom is over.
DJIA climbed 1.5% last night and gold did nothing, DJIA now 15% ahead of gold for the last 6 months.
Did you know EZ that in 1998 there was the LTCM financial disaster, engineered by some of the smartest people on Earth that nearly imploded the world banking system and required a Fed bailout? Gold did nothing.
Standard Bank said the other day 'gold and silver markets are positioned for weakness'.