Precious Metal Experts - Gold will fall well into 2015
and after you read this you will understand we are at the cusp of a major gold correction.
"Gold was already on the defensive before the Fed minutes as the tensions in Ukraine were easing and the market was paying less attention ... so you had other drivers like the dollar, which has been moving up since the start of the week," ABN Amro analyst Georgette Boele said. "And then you had these less dovish minutes, which put extra pressure on gold, and this is also ahead of tomorrow's speech by Yellen at Jackson Hole ... The main topic should be employment, and the way she sounds will be crucial. But it appears the Fed chief will now raise rates at an earlier date then everyone expected" Thus gold could correctly wildly on the down side.
Be very careful gld longs - you could lose finger and toes if you go long here and the Fed says - be prepared for higher rates in the near future.
Bought Dust last week and starting shorting GLD yesterday. If you listen to the Fed members talking they are all saying economy looks strong - which has to equate into Yellen raising rates sooner then she wanted. Gold chart going forward looks like a straight arrow down.