The trends of T-Bond Yields and the US$ have heretofore been downward on-balance during the past decade. And IMO there is nothing on the horizon to alter this. In fact the T-Bond Yield looks to retest its Dec2008 low of 25. Consequently, the US$ Index should fall approx 30% to about 58 (if it maintains the same direct correlation with T-Bond Yields).
How might a 58 US$ Index translate to the gold price?
The Gold vs US$ chart below demonstrates that gold rises on-balance +13% for every -1% decline in the US$ Index. Therefore, this implies the gold price could theoretically rise +390%. This would suggest a gold price close to $5,000/oz.
Barron's gold Stocks Index soared over 900% during Carter's 4-year Presidency (notice chart is in Log scale) - Click chart when you see it to make larger.
ISRG upgraded at Wells Fargo. UP 3.5...very little, when compared to the latest drops, which I followed here for a while... Still not clear what is happening there...
Out of the money Sep puts, for a swing, did very well...