Fallguy,
You need to decide if you are taking a view on the $US or the gold price. Whilst at times they correlate to some degree, they are not always in sync.
Other factors on gold price other than US$ are:
1. Dramatic change in hedging policy within the industry.
2. Decrease in central bank sales
3. Falling world gold production / low exploration expenditure.
4. Middle east instability.
Take your pick.
acturtle
