You'd think that with America stuck with Obama for another 4 years Gold would be a moon shot right now? The Fed is printing money like an addict on crack with now let up in site. There is also the budget cliff around the corner with no easy solution? I expect Gold is a hold not a sale. Just my .02
If we go over the fiscal cliff it might be bad for gold. The dollar would probably rise as a result of our improved fiscal situation (higher tax revenues and lower spending). On the other hand the Fed might have to provide more liquidity to try and stave off another recession. So I don't really know. It will probably all get kicked down the road, anyway, which is about the only option that our legislators in D.C. can seem to agree on.