Baires, that was truly a great question and I was glad to hear that answer.

I'd like to add that there is this popular notion that Gold will only go up if US interest rates go down and vice-versa. It's like everyone forgot that the run from $300 to $600 occurred during a time of 18 consequitive interest rate hikes.

I recall dreading each fed meeting. The hike would come and gold would pull back that day. Sometimes it was a huge pullback of $15.00 or more :). Then back up the ladder it would go, higher by the following week or month.

Fundementally, the USD can, at best, mount a short term bump. Then it's back down and gold will prevail. I welcome this pullback. I hope today finds the bottom but if not I hope it just drops till it gets there. Rip that bandaide and lets get on with the bloody show!