Shorts are in charge... Gold may see further pressure to the downside as the Sept. Fed meeting approaches....Goldcorp and others may be had for 5-15% lower before any meaninglful move higher when the shorts start covering.....$16.25 for me would be nice start....and will accumulate from there with intended 10K position......Goldcorp should easily get back to $25 before year end....or early Feb IMHO....
FED will have difficulty increasing interest rates....New decent paying jobs are non-existent....hiring is slowing and will only get worse in Aug/Sept and into winter IMO.....They can blame everything on the weather all over again....
Gold should make a push to $1150 on short covering alone, then the rest will be on the FED's inability to control their desire to fund the wealthy......in short form we will see more QE in the form of low rates longer and possibly further QE to stabilize/prevent the next major recession which IMHO will be massive......2016 will be a year to remember......probably the start of major war as well.
Good Luck to all.....patience will pay off.