I agree a shift is occurring but I don't know that it's necessarily orchestrated to bring prices down. I think you've got a lot of folks that think the dollar has bottomed. A lot of folks think that tomorrow signals the end of interest rate cuts and that will mean the dollar will rise, which will take gold down, which will take down the price of all commodities.

Keep in mind that these are the wall street traders. They don't consider the underlying commodity. They just understand the paper that it trades with.

However, there has been a huge amount of dollars printed in the last year. Truly an unbelievable amount. In addition, the US economy is weaker now than it was a year ago and it is getting weaker, not stronger. The ONLY thing it's had going for it is the dollar's decline has made it a little more competitive to manufacture in the US so a rising dollar negates that.

At some point the USD will face it's fundementals and will start to decline again, however, this time it will do so in the wake of rising interest rates. That will be our day because the market will suddenly realize that the dollar can still fall if interest rates rise. They'll understand that the fundementals are bad for the US and that will be a real eye opener. Then I think gold will start moving back up towards $1200 and funds will start rushing in since they'll have nowhere else to go.

/db