The author believes that gold prices will rise more once QE is announced. I think that they won’t rise much, and I believe this to be true of all the financial markets. Once the Fed and the ECB started the summer jawboning on June 28, investors began frontrunning them resulting in a rally for the last six weeks or so.
It seems to me that most of QE is already priced in. If the market fails to rally on the announcement in September, things could get bad in a hurry.