Dollar/Euro vs Gold for past six years. Typically, gold rallies when dollar/euro falls, unless there is a recession and unless euro is having its own problems. I don't remember exactly when the last recession was and when euro had initial problems from the PIIGS mess, but from looking at the charts, I'd guess the recession was worst late 2008 when gold and dollar both went down, and the euro troubles hit in 2010 when gold and dollar both went up. Just posting this to try to reply to an email discussion. Best, Don