Our precious metals friends must be quite frustrated (I learned quickly with my posts at ZeroHedge to never question their religion; kooks are a passionate bunch). In any case, if there is any time that precious metals should be zooming to heaven, it is now. The US dollar is becoming a steaming pile of poo; trillions of dollars of new fiat money are pledged; the United States can't get its fiscal act together. Gold should be $2,500 per ounce by now.
But……..it's dropping. In fact, except for bonds, precious metals are just about the only thing dropping. The yawning divergence between the Euro and gold is breathtaking: