the US fed has given its announcement  and the markets have reacted to it

the long  positions in gold which were based on the possibility of a QE3 have unwinded and gold have fallen from its levels yesterday but frankly it has not fallen to level that i had expected

that would mean that gold fundamentals are still intact and it is still the currency that people would flock to when there is uncertainty and the climate looks uncertain

all the markets are down including a sharp fall in the European markets

all these are ideal conditions for gold to go up

yes gold fall when dollor is strengthing but i think that move is done and from here on gold should behave on fundamental basis

so i would advise to take  along position in gold as i think there is upside in gold that would play over the next few days