No taper and a dovish Fed was the best thing that could happen to gold.
The $60 post-FOMC rally was impressive but that lack of follow-through isn’t. Today gold is down $14 to $1352 and that’s a bad sign.
It’s too early to hit the panic button but if gold can’t sustain a rally in these conditions it’s time to get short. I’m thinking sell on a break below $1340.
