Printing money is generally seen as a negative for gold. It...

Printing money is generally seen as a negative for gold. It means they are just extending the inevitable crash. For gold to really re-rate, a crash is a good thing and people will move their cash to safe-havens. If interest rates rise and people sell their homes there will also be more liquidity around for commodity sectors such as precious metals. Instead of all the current spare cash going to the bank every month to pay off the mortgage, this cash will be going to alternative investments, such as commodities and in a bad economic environment, precious metals will be the top choice. IMO the drop in the gold price makes sense the past couple of days with the current media attention on the USA Fed and Infrastructure Bill.

It is just short-term noise though, gold will be back up again in the next week or so once it is finished and out of the media spotlight.