Plummet's Back

As I write this post, spot gold's been hammered down more than US$20/oz to $1,117.50. Most likely, this drop was caused by November retail sales being reported as better than expected. The recovery story once again is driving gold down and the U.S. dollar up, as good news is translated to mean "Fed tightening sooner."

And, once again, the gold/stocks correlation is turning negative. The three major U.S. averages are all up.