I've read speculation that in the event that one or more countries default and/or exit the eurozone, the USD's value might rise in the short term, as capital flows from euros to USD.
But how would this affect the exchange rate of gold to USD?
Would unemployed Europeans find themselves selling gold to pay for living expenses, driving the price of gold down? Would a short-term stronger USD also drive the price of gold even lower?
If you wanted gold, would you wait or buy now?