big discount, employment rate better means obama may win imply QE3 will continue
In addition to my article above, I just would like to talk about today lower gold price reaction. People are short-sighted. People think the good US employment rate report will strengthen the dollar thus the gold price go lower this morning. However, this is extermely short-sighted. Think about it, the gold price will only go higher should Obama won and Bernake hold his seat and they will most likely to continue their existing monetary policies in next few week and this good US employment rate report does increase the chance that Obama would win. Second of all, we are heading to holiday gift season and there would be high demand of gold in India. Today drop is a onetime opportunity to buy gold.