maybe Gold goes lower... But not by much. Theres an absolut TON of printing going on in Europe with them heading only deeper into recession... And just because Ben is deliberate to not mention QE in USA, by no means has our Country simply stopped printing, no will ot until it raises rates which The Fed has already guaranteed will not happen for quite awhile. China is certainly printing and still buying tremendously.
Gold had really gotten ahead of itself... Failing at 1800 time and time again. It's been a fantastic rangebound trade for months. The US Dollar will not miraculously become strong... Not for years yet.. And we begin the trade again... Consolidation right here- (just look at the Aftermarket ticking up) and soon the redefined range emerges with GLD tarading between 165-170 until May. Holding Gold in large non physical position is suicide, but nimble weaving through GLD is still definitely Good as Gold ;)