Fundamentals haven't changed, page-525

I'm assuming big money continues to play with gold until the next black swan event triggers a correction. We are way long in the current economic cycle and a number of bubbles have formed - not the least certain parts of the Aussie property market. Not sure of 60c Seth but I'd buy you a long lunch if we got there
Always had a 65/66 target on the little aussie bleeder and remember 54c back in the mists of time so not impossible in a volatile market undergoing a correction. Hence I hold Aussie goldies and am now on the hunt for a couple of explorers to have a play with before AUD deteriorates further.
Not so sure Lverty of the rise continuing in the US economy and a run of raising rates but they may do a couple quickly in the run into an impending fall in growth so they have something to play with if stimulus is needed ( it's never really stopped since 2009...).
Your analysis is sound however I've learnt not to stress too much on the macro other than watch it - but have a plan with tight stops.
Time for laps in the pool...

G