Quantitative easing has been pumped around the boards as the saviour to gold prices, but as I will continue to point out QE has done squat for the price of gold in fact gold has dropped over the past year.
Major gold producers with the lower gold prices will continue to nip investments and will continue to cut costs and limit M&A activity or low ball at the very least. Still mega dumping of gold on the markets but we may be seeing a bottom. My advice is to buy oversold producers and avoid explorers.
I still see gold sideways at best for the remainder of 2013 as gold and gold stocks will continue to be sold to cover margin calls and other market losses. Not to mention summer doldrums as I pointed the pullout from the Venture trading stats I posted but also an earlier tax loss season, and those wanting their money back on any blip in stock prices. 2014 may look promising though but there are still too many variables for analysis. Europe (THE KEY) is still shaky.
Gold 1 year. See what QE did NOT do for gold?