Could be....looks like the USD wants to rally here given the positive divergence on the MACD. That could spur on some type of reflex move towards the end of the month with gold likely weak. Perhaps a topping move intermediate term for the markets.
It sounds like you're betting on a deflationary, or stagflationary scenario, with the existing relatively loose monetary policies, and fiscal stimulus (at least in the IT). What's your take on the effects LT, 3 years and beyond?