He's softened his tone, but the message is still the same. Of interest is his quote of Doug Kass near the end of his piece:
The gold bears seem more certain of themselves. Doug Kass, forecaster at TheStreet.com, includes among his forecasts "the price of gold topples" to $900 by the beginning of the second quarter of 2010, and "the U.S. dollar explodes higher." That latter would be bad for gold; its upward momentum has been tied to expectations of the greenback cratering.Doug Kass is the same person who said that U.S. stocks presented "the buying opportunity of a lifetime" right at the March lows. He's a short seller by trade, and he seemingly sees a short-term shorting opportunity in gold. His bullish prognostication for the U.S. dollar, given its recent performance, is plausible.
However, confident bears and skittish bulls make for picture that's consistent with an oversold market.