RE:RE:RE:Fed tapering has started... By April -May next year probably with more updates on US economy we will know if gold can hold or drop further. Reality is some day in future FED will taper completely and interest rates will increase if that happens then high cost producers like PRU cannot survive. The only scenerio for PRU to survive is US economy does not do well and hence full tapering never gets done.
For every 10billion taper from FED ($120billion/year), I would think gold drops 5% to the point enough mines are stut down for demand to boost gold prices. These are very long economic cycles and takes years to reverse the trend.