Filthy Fed and Ugly Housing Data; Range Bound Gold and the Range Bound Fed

• 6/21/12
  Eco Scribbles Not so Good
  The Philly Fed Survey Collapses… 
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  My pronouncements on housing have been on the money. It’s not rocket science. There is a lot of delusion out there about housing coming back. I deal with numbers and facts. Existing Home Sales MISS EXPECTATIONS, Fall 1.5% To 4.55M (Exp. -1.1% To 4.57M)... 
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  Gold is Range Bound
  The gold struggle that I have talked about for much of the year continues. I am surprised that so many have been directionally bullish both near and longer term. Long term I see a rise for gold as a crumbling of the fiat system is 99-44/100% inevitable. However, I remind again, that so long as the dollar retains its favored status as the reserve currency of the world and a means to escape the euro, gold will remain in a trading range near term – a time-out mode, if you will.
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  Please READ MORE HERE: http://www.certifiedassets.com/inv/news/range-bound-gold-and-the-fed/