To claim big profits on long GLD and short AUQ is pretty stupid. The whole space sold off for now because the economy is fixed. Isn't it?
Gold is selling off because there have been too many news stories lately about how Soros and others, including hedge funds, are getting out of gold in order to put their money into stocks, which appear, for now, to be "booming." Time will tell.
How long is the blowoff going last? It's hard to say. Stocks are going to need more than just stimulus from the fed at some point. Commodities are getting hammered all around.