The dollar is up too, over 1%. Greece is falling apart and I suppose the $ is perceived as a relatively safe haven. I'm inclined to side with this guy's sentiment:
"Renowned gold expert Jim Sinclair expects gold to trade much higher this year and predicts after 2015, it will be priced at more than $12,500 an ounce. You should not take Sinclair’s predictions lightly. In 2002, he predicted gold (priced at around $350 an ounce) would trade at $1,650 an ounce by January 2011. Today, it is well over $1,500. In 1974, (the average price that year was $159.00 an ounce) Sinclair predicted gold would top out at $900 per ounce in 1980–it hit $887.50. Sinclair says, “If QE is even slowed down, the net result would be a public loss of control on the part of what is seen as the U.S. economic management.” So, he expects gold will rise because the powers that be will print more money."
