We used to talk a lot about it around these parts, but we’ve pretty much stopped following it ever since the whole goldbug, Fed-hater thing got so thoroughly discredited.
Anyway, it’s not looking so hot. In fact, it kind of looks like death.
Here’s a chart going back a number of years.
As you can see, it’s close to hitting 4 year lows as the US economy recovers and the dollar strengthens.