Skol, you are right as usual. There is a strong negative correlation between Gold and Interest rates. Interest rates down Gold up and vice versa.
As can be seen below. The top table shows correlations over 2 yrs the table below shows the same over the current 3 mth period.
Periods of deviation are normal but the link between interest rates and gold is undeniable. When (not if) debt buyers demand a higher interest rate then gold will plummet.
