I would only remind you that the day the Fed raised rates Gold shot up like it was fired from a cannon. The rate/gold/dollar correlation has been debunked with data. At best they may be catalyst's for moves, but as far as prediction is concerned... not really. If you subscribe to Elliott Wave technical analysis, this downturn was predictable. As long as gold holds above 1194, you can hold a overall bullish perspective over the next few weeks if swing trading. In fact, in the next week we might just see a "rip your face off" rally.
If however, you subscribe to fundamental analysis, I can say that there has never been a better time to hold gold. It simply needs a catalyst to remind people how frail the system is. That is coming too, seems like it's all perfect timing.
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