Gold Bugs Might Want to Listen to Led Zeppelin

Gold bugs need to avoid the the allusion made by the famous Led Zeppelin song, "Fool in the Rain," about waiting for someone but in the wrong spot. 

In this case, gold bugs have been waiting for inflation and a new gold bull run. But if the U.S. Dollar keeps rallying they had better rise to the occasion into the pullback we are seeing in the precious complex today.

Some big-time gold miners (and quality charts) like GG KL NEM (plus ABX) report earnings in the next week or two, which could easily sway the action, too. 

However, I continue to have one eye on the Dollar rally, since it is not likely a coincidence that the UUP Dollar ETF breaking to multi-month highs today is throwing a bucket of cold water on the recent precious rally. 

As for equities as a whole, tech stocks are noticeably uneasy in front of GOOG earnings tonight.