"US dollar rally" is the explanation pundits use to explain gold sell-off. Reality: gold soared to record highs in early August and we're now in an extended correction. Dollar FELL throughout this 5-mo. gold correction. Gold correction from the record highs has to run its course

Gold correction will end once enough of the week-kneed (who are still hanging on) finally punt on gold. We're getting closer. Reality is this is just a correction in a major bull with conditions ripe for much higher levels: deeply negative real rates, a bout of inflation ahead

That bout of inflation will be driven by Y/Y comps (starting in weeks), soaring commodity prices (look at oil, food, industrial metals), massive (record M2) money supply growth, Biden stimulus & economic reopening as COVID cases fall. Will lead to even deeper negative real rates

Meanwhile, Fed will sit on its hands& NOT raise rates/taper their massive money printing due to fear of popping enormous (record-sized) asset bubble's they've created. Record twin deficits (budget & trade) & deeply negative real rates - perfect conditions for gold bull to resume