Priced In.

Is QE11 priced into the current price of Gold. I strongly believe so.

Bull case for Gold:
Endless printing of currencies
Inlfation hedge
Countries buying gold at a record clip
Not everyone owns gold

Bear Case:
If QE11 is priced how can the bulls possibly look at QE111
The dollar is stretched very hard on the down side and any correction could hurt Gold
The EURO is extremely stretched on the upside and is due for a correction, which in turn would hurt gold and help the Dollar

Currently i have been shorting silver and sugar. I am down on my Silver short and i have been waiting to add to the position but will probably hold on that. I believe SGG has a better risk return than SLV.