Publisher's note: With the Fed scaling back, it looks as if Gold may be on the way down a bit, or a lot. In the early 80's, Gold skyrocketed and then hit bottom for 20 plus years. time will tell with this very valuable commodity. This Publisher is watching Gold very closely.
Fox Business: Gold edged lower on Monday, on course for its largest annual loss in 32 years, as thin pre-holiday trade and signs of an improving U.S. economy kept investors fretting over the impact of the Federal Reserve's stimulus tapering.
The metal posted its biggest weekly loss in a month after the Fed's decision last week to start scaling back its bond-buying stimulus, which was followed by upbeat GDP data.
"Investors remain negative towards gold for now as there is no more uncertainty around the Fed taper," MKS SA vice president Bernard Sin said.
"The Fed QE tightening...will lead to a gradual rise in interest rates, which will eventually make the cost of carrying gold a lot higher... and that suggests further liquidation."
Spot gold fell 0.3 percent to $1,198.50 an ounce by 1456 GMT, while U.S. gold futures for February delivery was down $5.90 at $1,197.70.