Precious metals see a bout of major buying, with gold (GLD +1.5%) jumping about $25/ounce in the past few minutes, and silver (SLV +4.8%) soaring nearly a $1. Bearish for some time, Mark Dow reminds gold has been going down for 2 years, but the decline has only recently made the headlines. Gold's post-QE run was built on a number of misconceptions which have all cracked. The longs (silver too) are trapped and the bear market isn't close to over.