Despite all the turmoil in Egypt and the Arab world, gold has stubbornly refused to rally. This probably causes great concern amongst the gold bugs and the folks who are bullish on gold.
As we have mentioned before many times on this blog, "perception is more powerful than fundamentals."
While the gold bugs argue that the market is being manipulated, I am more of a realist and respect what the market is actually doing. The big question on everyone's mind is: Why are food prices and other commodity markets soaring, while gold is dismally staying down in the $1,330 area?