Looks like we will continue to see gold bouncing around until we get a better answer of when tapering will occur.

Looks like we will continue to see gold bouncing around until we get a better answer of when tapering will occur. What could possibly stop the Fed from tapering between now-March? The job numbers released last week exceeded expectations, the auto industry is doing well, and if Congress passes a budget deal the Fed has no reason not to taper! Gold is trading on the downside this morning as a possible U.S. budget deal means that there will not be another government shutdown and thus, increases the likelihood of an early stimulus reduction. AG, PT, & PD are following the AU leader and trading in the negative territory this morning. Lately, we have seen bullish moves in AU due to a weakening U.S. Dollar. The USD will see gains from current levels if the Fed trims back on its monetary stimulus. If the Fed shows signals that the economy is strengthening and doesn’t need help from the central bank, the US Dollar should see some upward movement. Retail Sales (MoM) are up .7% for the month of November and the number of people who filed for unemployment last week increased by 68,000 to a seasonally adjusted 368,000. Have a great day!