I think we are at an important temporary junction for gold and silver. It could go either way in the short term and early indications are that silver for example, could very well go back to $26.00. Oil will probably follow the same curve, and summer gas probably won't go up in spite of having to change over to satisfy the Reid vapor pressure problem.

This would be the last dip and then both will take off, the timing is dependent on the speed of unrest in the Euro countries, with already new governments being changed. This won't make any difference and of course will backfire as new measures fail. All measures are due to fail because of the root causes. The Euro ides was badly flawed to begin with. Money printing has helped the US stock market and the rich get richer. Leaders yap about eating more fruits & veggies and the mainstay population can't afford it now - wait until next year.

I don't see how China could be a reserve currency-they won't divulge anything, so we are back to what has worked the best over 5000 years -gold.

p.s. Another good post Sculp!