Fed Possibly Bluffing on Raising Interest Rates

According to Bill Gross, raising interest rates at this point - something that Bernanke has made mention to - would be a mistake for various domestic and international economic reasons. 

Raise interest rates with 15 million jobless and 25 million part-time working Americans? All because gold is above $1,100? You must be joking or smoking – something. We will need another 12 months of 4-5% nominal GDP growth before Bernanke and company dare lift their heads out of the 0% foxhole – mini-bubbles or not. Instead, the heavy lifting or the charging of enemy lines in the case of this metaphor will likely be done by other central banks – already in Australia and Norway. In addition, and importantly, China may abandon its dollar peg within six months’ time and with it, its own easy monetary policy that has fostered more significant mini-bubbles of lending and asset appreciation on the Chinese mainland.  Pimco

 Maybe we're just cynical, but it could just be a ploy to push precious metals, specifically gold, lower for the central banks around the world to buy in at a cheaper price.