From Forbes:

Gold is soaring Monday, trading at $1131 per ounce. President Obama is in China, calling for a new relationship. New relationship, indeed! On the surface of this visit everyone is smiling. Immediately below surface the dollar is falling--again.

There is tremendous global finger-pointing today. Liu Mingkang, head of China’s CBRC, said that the combination of a weak dollar and low U.S. interest rates has spawned: "A huge carry trade” that was having a “massive impact on global asset prices … [It] is boosting speculative investment in stock and property markets and will pose new, real and insurmountable risks to the global recovery and particularly to the recovery in emerging markets."  More, including a contrary opinion, here.