The Price of Gold

I notice the price of gold has suddenly jumped up which (after a brief glance at capitalists@work) seems to mean that either.

1. The Hedge funds are expecting an equities dip and are squirriling away the cash.

or

2. Gold itself is being set up for a fall which would occur if the world really is comming out of recession with the effect that the safe haven of gold would no longer be so appealing.

Sadly, lacking financial wizardry myself I can't figure out which it is (I would guess the latter)