taper bear case, obviously bearish right now... thesis, selling position or slowing it down and dollar appreciation causing gold to lose luster... this trade is done and already been happening for months...
taper bull case, continued purchasing helps gold as dollar depreciation, but then why has gold been in a 2.5 year bear market... doesn't completely make sense.
lack of fear, gold losing luster due to lack of fear... doesn't make sense, unless irrational confidence in fed and fed's understanding of treasury purchases... the truth is, multiple fed members have established their fear in lack of ability to pull out.
There are a lot of what ifs. At the end of the day, us investors need to know where gold is going if we are long or short