Looking into $US rise a little more... apparently, it's all because of the EU allowing its member states more flexibility in their budgets (i.e. higher deficits). This is viewed as being bad for the Euro, which, IMO, is correct.
The $US thus rises, in relation to the Euro.
The problem for Gold is that it is so strictly tied to the value of the $US in relation to other major currencies. This is the scenario that has scared the crap out of me for quite some time, that is, that all the fiat currencies will go down the tubes, and Gold will slavishly follow along.
Granted, at some point, Gold will detach from the $US/Euro ratio, but the longer it takes to do so, the more holders of Gold will lose in real value. Today was a clear sign that the POG is not nearly ready to make that move.
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