A growing number of talking heads are calling for higher gold based on the expectation of a lower dollar. This interpretation is based on the belief that a dovish Fed will push the dollar lower, generated inflation, and cause gold to rally. This is the standard call of the gold promoter.
Another possibility, a favorable outcome, is that the growing crisis in Europe, Japan, and Australia intensifies capital flows into the U.S. These flows push up the dollar, U.S. stocks, and gold. This combination of trends, likely considered heresy by the promoters, must be recognized not believed. Line 62, column W of the Matrix tracks the correlation of the U.S. dollar and gold. The two assets normally move inversely, cycling between negative and positive correlation. The U.S. dollar and gold's overall correlation is moderately negative. If confidence falters, the two assets will link up, displaying proportional moves that will last a lot longer than 'normal' patterns.