Dow down 777

Yesterday could have been a good time to buy, but when was never entirely certain.  The legislation will likely be bearish for gold, and a purchase sometime after it was passed, would be a good time to pull the trigger (knowing that were it not passed, GLD would likely uptrend somewhat markedly).

The legislation didn't pass.  If the congress somehow passes new legislation this week, GLD will pull back some.

Today gold should continue to drift slowly, and erratically, higher.  However, if the dow rises substantially, which I doubt but which futures seem to indicate, we'll see a temporary but notable downward pressure on the price of gold. 

GLD should rise given the current uncertainty and the Fed's loose monetary policy.

Regardless of what happens today with some confidence, this site's forecast is for gold to end the week up, in the $940-$970 range.