because the concept of 'precious metal' will be a thing of history eventually. When I hear people on Radio push gold to the public every day, you know the end is near... who is left to be the greater fool? from industrial use standpoint, gold is about as valuable as copper, which is $3 a pound.
The usd had the kitchen sink thrown at it last week...and it ended up. I used to be a gold permabull. Now I just let the market tell me what its going to do.
From here on in its not so much a USD story. Most central banks are considering rate cuts, so theres a good chance USD index will tread water between 74-78. But ALL currencies will devalue against gold. If people don't accept the value of gold, do they accept the logic of cutting down a tree worth a few thousand dollars, putting green ink on it and calling it a few million dollars? Don't let the previous scars cloud your judgement.
Oh and if you really let the market tell you what to do you would have been long gold for a long time