09.10.2013 FOMC Minutes

Today we learnt the details of last meeting of FED with FOMC minutes. It seems most of the FOMC members give their opinion of starting the tapering in this year and finished the stimulus program in 2014. However, it past 1 month till these subjects were discussed.

In this one month period, the budget crisis because of the politicians occured and the ideas may be changed. Because of this, the fluctuation for the prices will continue I guess. After the minutes, GOLD started to decrease again but it can gain again.

The tapering discussions are getting boring. It is like game that will never end till the stimulus end.

Today the short positions on GOLD will give profits but tomorrow traders should be careful in my opinion.

As a result, minutes tells tapering is near for this year. However, with the latest news from USA, market players can’t be so sure fore that.