To add fuel to your conjecture Chuckey, I noted with interest the Financial Times report (on Investorweb this morning) that European banks were meeting to consider raising the tonnage of gold they can sell (dump) annually on market. You could read this as a natural desire for banks to operate more freely and cash in on a high gold price - or you could be more cynical....
GATA and other conspiracy theorists would no doubt see this as evidence of attempts to mount more spirited attacks on the gold price should it threaten too speedy a fall in the US$. And I'm beginning to think they may be right.
Certainly I think there are powerful vested interests that do not want the US$ to weaken to the levels it would otherwise have reached by now (given the US deficit). This of course puts the brakes on gold - but only temporarily in my view.
