Because a lot of folks are a hell of a lot less worried about inflation when the central bank starts talking about coming off of their bond buying spree? That's as good of a guess as I have.
Unless we do something monumentally stupid (like lifting the restriction on crude exportation) I look for the dollar to have a lot more strength until this round of massive oil drilling investment plays out. There's a lot of domestic oil production that is helping to put a floor under the dollar (in my very amateurish opinion). This will take a while to run through.
Barring calamity I can't see gold breaking out with the Fed backing off(so they say), domestic oil production adding strength to the dollar, and the rest of the world in serious financial trouble.
Will
