At current levels, in my opinion, precious metals are not the most secure investments; I do not expect gold to rise or plunge in the near future. The likelyhood of another Quantitative Easing is next to null, and even if the Fed raises the short-term interest rate, the raise will not be substantial enough to give the continiuity to the market movement that you might witness on the day, or two, of such announcement. Thus, expect to see the side-ways movement in the gold price.

Traditionally speaking, the corellation between dollar-index and oil-price has been pretty high (If I had to throw a number out there  without doing any calculation, I would say above -0.85). However, with the dollar already at this level, I do not expect the dollar-index to react as greatly as it did in the past to the rise in oil prices. What could drag down the dollar value is the current situation with the U.S. debt ceiling. I expect the U.S. to extend its debt ceiling, but with some delays. That being siad, I am not very sure on the extend of negative impact of delays in extending the debt ceiling might have on the U.S. dollar value.

Given the uncertanity in the U.S. debt ceiling, which may or may-not drag down the dollar value, I would not start taking profit on gold yet; I would hold on to it.

On a seperate but lighter note, NAS bro, why are you trusting banks with your 80% of savings (gold and silver @ bank locker)? I am pretty sure you are avid listener of Gerald Celente. Let me remind you the three Bs that Gerald detests the most: Bullets, Bombs and Banks. Also,given the world's doom day scenario, shouldn't you allot certain percentage of your portfolio to cans of beans?

If there is a dooms day as predicted by some, the site below might come handy - food insurance!

http://www.foodinsurance.com/

Regards,
Megalomaniac