I find this drop in gold extremely interesting and a possible early warning signal for a major drop in stock prices. Unlike the common theory that stocks drop when gold goes up, gold has for the most part lead this unconventional rally since the saving of the banks by not allowing debt to be revalued was begun in 2008 when gold was at about $800 an ounce.
Therefore it seems to me that deflationary pressures, that is the value of those debts held are not sufficient to pay the debts owed or allow for sale of new debt to continue the cycle, are overwhelming the printing presses and forcing redemption of assets that central banks have that they can dispose of without negatively effecting the value of their existing debt.
Indeed most of the countries that are in serious trouble, Cyprus (13 million tons), Italy (2,451 million tons), Spain and Portugal (383 Million tons) have most of their holdings of reserves in gold. The Cyprus decisions as reported in the London Financial Times to sell 10 million of the 13 million tons they hold is most likely being viewed as a first step and getting out of the way of slow moving governments is easy for panicky rich guys.