After witnessing gold prices rise roughly $500 in the last four months, it is not illogical to expect prices to pull back at some point and enter a correction of some sorts.

Today it was a combination of dollar weakness, and an extremely accommodative Federal Reserve that continued to support the current bullish market sentiment for gold. Dollar weakness began in the middle of March after reaching a high of 103.

If the futures market is any indication of where traders think gold is going, then $2000 gold might be much, much closer than we think.