Stephen Jen

For a long time people didn't ask about gold, but now more people are asking. When you have concerns about the outlook of some sovereign bonds, gold is not a bad place to be.

I'm not sure the lack of liquidity for calendar reasons will make that much of a difference. I could be wrong though, we want to get it over with, get a fresh start to the year, no pent up expectations. In fact, if they don't do it in December then January would be volatile.

Global risk is elevated right now and so the Federal Reserve would be cautious in hiking interest rates, that support for the dollar is not there at the moment.

Perhaps the bigger point here is that central banking is increasingly being driven by the personalities rather than the institutions.

In the past opinion polls accounted for 85% of your input, now maybe it's 30%, the world has become so complicated that polls, the standard metrics of the past, don't capture the picture anymore.