In this editorial Chris Laird argues, persuasively, that the Gold-rush
is not over (despite some recent profit taking). He says that the reason
for gold's big jump in price may be that a consensus has formed among
the int'l central banks (et al) that there is too much fear regarding
the continuation of the USD as a world-reserve currency which has
reached the point of no return. He says that the signals are being sent
from China, Japan, EU, and elsewhere which indicate a consensus to
switch from dollars, but no one is sure when it will occur, or what
alternative to chose.

If his analysis is correct, then things could begin to get a lot worse
very quickly. No one wants to "catch a falling knife" when market fear
turns into a panicked stampede out of dollars.

http://stevequayle.com/News.alert/06_Money/060517.gold.action.html