FOMC says that the firm
is not going to change its expectations to see tapering in
March 2014. Gold will remains in a cyclical downtrend, despite recent
events that have given gold a firmer footing. â€œOverall, WI demand has provided
a boost to the price of gold in recent times and emerging market demand,
including in the Middle East, has helped to provide a floor in the
price. There are many reasons to believe that gold will resume its
downtrend, not least of which is that the current ultra accommodative stance of
monetary policy will, albeit slightly later than had seemed likely a few weeks
ago, be tightened. They are still bearish in gold n targeting 1000$ till 2014.
After the end of a two-day meeting Wednesday FMOC the U.S. Dollar may not have to fear since expectations of continued dovish policy are already factored into prices.
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