The fundamental feature was the strength of the dollar versus the yen -- and statements that the Japanese won't be supporting the yen. And no one wanted to be long in gold over the weekend.

There have been a lot of problems: the Nikkei in Japan hit 12-year lows, there was fear the Russians would dump metals, and the Dow is off 20 percent in the last six weeks.

The world's relatively calm and no one's expecting World War III anytime soon.

It's just a nail in gold's coffin.

All the fundamentals would suggest that we are going to stay at these high prices. Inventories are low, the market is tight and China is a big buyer.

Most of us, I believe, admire strength. It's something we tend to respect in others, desire for ourselves, and wish for our children. Sometimes, though, I wonder if we confuse strength with other words—like 'aggression' and even 'violence'. Real strength is neither male nor female; but it is, quite simply, one of the finest characteristics that a human being can possess.