While this is happening, it's interesting to note that the price of oil continues to collapes.

Why then should the price of gold and other commodities be going up at this time.

Perhaps this is to some extent related to the developing curreny wars. Russia, China, Venezuela and some other countries are facing difficult times as the price of oil has fallen well below their domestic cost of production. I think they are furiously buying gold to backstop the consequential negative effects upon their economies, and will do whatever they can to hinder the rise in the value of the dollar, meaning they want a higher POG.

Hungry bears (and tigers) are dangerous things, no?