Gold and the QE War?

This is going to an interesting week for gold.  We expect some currency fireworks as the Bank of Japan draws a line in the sand for the Yen around the 80 level.  Will the Japanese respond to QE2 with more of their own QE?  If the Fed is aggressive and the Bank of Japan responds in kind, this could be a big week for gold.   We expect to see $1,400 this week and will change our view if gold closes below its 21-day EMA at 1338.   Stay tuned!

This entry was posted in Currency, Gold, Monetary Policy, News, Policy and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.