Over the past 30-45 days, gold, silver, and most metals have been given a fine haircut by the markets, and especially the Hedge Funds who needed to sell off to cover positions in the equity markets.
Over the past 3 days however, gold, silver and copper have rebounded strongly in the face of the Euro and US debt crises. The reason? Inflation. And the cause assuredly is tied to a sudden influx of dollars by the Fed in certain 'programs' that have been achieved under the table, and outside the mainstream processes.
Already this morning, gold is up $13.50, and there events in Europe are far from being resolved.