The conventional view is that Fed money creation is necessarily bullish for gold and that a tightening of monetary conditions beginning with the cessation of Fed money creation is necessarily bearish for gold. It's strange that this view is popular given that gold was clearly hurt more than helped by the QE program that extended from October of 2012 through to October of this year.
If gold is now going to be hurt by a 'tighter' Fed, the implication is that regardless of what the Fed does it's bearish for gold. If the Fed aggressively pumps money into the economy, it's bearish for gold. If the Fed stops pumping money, it's bearish for gold. If the Fed not only stops pumping money but starts hiking interest rates, it's astronomically bearish for gold!...........................................Full Article: Source
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