Upcoming Schedule

The next week and a half are going to be busy for Gold, with a lot of major events that will likely have a large impact on the direction of price movement. The following events are key:

1. December 12 (Tuesday) - the FOMC announces its decision on interest rates and issues the accompanying policy statement.

2. December 13 (Thursday) - OPEC will meet to decide whether or not to officially implement further production cuts.

3. Treasury Secretary Henry Paulson is in China this week to discuss Chinese currency policies, among other things. I'm not sure when exactly the meetings will be wrapped up or when we can expect any news.

4. December 19 (next Tuesday) - the Bank of Japan announces their decision on interest rates.

Those are 4 very major events so Gold could be very volatile in the coming days. Since we are currently back to the broken downtrendline in the HUI and beginning to dig into resistance on the USD Index, I'm hoping that we'll get a major bounce and powerful rally to end the year in Gold.