We are getting closer to the end of QE, markets nervous, money supply in abundance, actually in abundance in the till of companies benefitting who? Did QE really solve anything since you see a market in panic mode at the mention of stopping QE? Inflation/deflation on the horizon since people are losing buying power daily, which remember drives the equities. Low paying service jobs is the only expansion of employment, non existent pay raises, high gas prices. Yeah the market is/will expand, NOT.
Ok, let’s assume that QE solved nothing, just in case you want it this way. In this respect, why do you think that ending of QE can cure something, i.e. more specifically, bear market for PM stocks?
Gold price is not linked to QE, though if you check media cries in this respect, then most commentators assumed that QE was positive for gold, i.e. assumed positive link. If it’s true, then QE ending would be negative for gold, wouldn’t it?
Forget about QE bogus rationale (unemployment, inflation, etc); it’s mostly media invention. Bernanke prints money to plug hole in government budget, that’s it. It will continue as long as the hole exists. No relation to gold.
Gold price will start recovery if/when U.S. economy shows signs of breaking down and, more important, media starts reporting on it. It can take time, because U.S. economy is still stronger than most other countries, and outer world still loves U.S. dollar. Add here tech breakthrough in energy (aka fracking) and many things can be explained.