Over the last few months there has been a strong correlation between the PoG and the $US.
It is entirely possible that some traders are shorting gold and using that to fund buying $US. If so, there will not be any short covering of gold until the $US tops out. [unless there is some left field sentiment change for gold. Many of the arguments which 'timber' has consistently made appear to be correct ... gold does not currently enjoy any particular special financial status. As things stand it is being traded just like any other commodity]
