The Fed has entered a "quiet period" before its next meeting, and gold seems to be going along for the ride. Here's an updated chart.
If this channel holds true, gold is primed for a bounce. Potentially a big one.
Other stories of interest ...
ETFs backed by gold account for just 3% of the $3.21 trillion of assets held by investors.
The Fed is in a quiet period, but their agents can still massage the market. Wall Street Journal's Hilsentrath: Divided Federal Reserve is inclined to stand pat http://on.wsj.com/2cRYKiy
Still, we should notice that bond rates are rising. If this correction to the big declining trend turns into a real rally (a big "if"), as gold investors, we have to be honest with ourselves. That could smack gold on the nose, at least temporarily.
China is in a new home-buying boom. Potentially good for commodities.
On the other hand, IEA cuts global oil demand forecast amid ‘wobbling’ Asian demand: http://on.wsj.com/2cSEXQ2
Oil Bankruptcies Leave Lenders With ‘Catastrophic’ Recovery Rate, according to Moody's. 21% Recovery rate. Ouch.
Wars in Iraq, Afghanistan cost almost $5 trillion ... so far. Man, what could we do with $5 Trillion?