Many traders, including this one, took note of the disappointing price action in the SPDR Gold Trust's (NYSEArca:GLD) highly anticipated breakout attempt last week. As I wrote early this year, it's been my view that GLD and the iShares Silver Trust (NYSEArca:SLV) could be in for a hefty pullback as inflationary speculation cools down and the dollar catches a bid. While gold did have had a mild pullback to the $1,390 area, both SLV and GLD found aggressive buyers that pushed the precious metals higher again, taking them back to new highs last week.