We’ve been ambivalent about rallies in gold prices for the past several weeks. Just two days ago it was noted that “what’s happening in gold prices is nothing more than a ‘dead cat bounce’…in recent Fed meetings and moreover, minutes from those Fed meetings, gold prices haven’t fared well as US policymakers inch ever-closer towards making a stimulus taper announcement.”
Price action in the 48-hours around the September Fed meeting have vindicated this apprehension towards the gold price rally that marked the start of the week.
