Gold has legs yet. The downspike we saw yesterday was merely a blip on the road to $2500. From there, who the fuck knows.

At this point the Fed is simply waiting to pull the trigger on Quantative Easing round 3, the only bullet left in their arsenal in the fight against recession. When that happens, gold will go crazy.

If you're lucky enough to sell at the peak following QE3 you'll be extremely happy. Some are saying $2500, some are saying $3500, it will be a nerve-wracking decision that may roll around as soon as November.