This article from Mining.com just about sums it up ...... the battle between the Bulls and Bears continues.
They point out that by the time QE1 was officially announced Gold was well off 2008 lows.
The fact that gold and the miners moved counter to the general stock market and moved up alongside the US Dollar might have some significance here.
Either Gold begins to act as a safe haven and moves up with the dollar, or gold anticipates easing to come from the Fed recognising a weaker US Dollar, or gold anticipates easing by all central banks in a race to the bottom for fiat money which aims to devalue the debt.
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