I agree, absolutely nothing has changed that would make the situation in the US any better. Although the trade deficit has improved with the low $, the budget deficit is high, inflation is still high (but reported low by the way it is defined) and fueled by low interest rates. Gold reached its 1980's level in the $800's but  accounting for inflation it has another 700 or 800 to go to match that level so is still undervalued. And that is based on the reported inflation figures not the true ones. The true inflation would place gold equivalent much higher  - in the 2500-3000 range.