Because gold has anything to do with the US economy?
Right now we're just dealing with the fallout of the housing bubble busting. It could very likely end up being a recession, but it's a bit preemptive to say it is one. If the government weren't spread too thin having darkie killing adventures, I think federal intervention could have prevented any nastiness.
Let's also not forget that the economy has been terrible all decade, and the only thing that's kept it looking good was the Weekend at Bernies-esque stock market success of the past decade. For the common people, the economy has only gotten more harsh this decade. If it is a recession, we've probably basically been in it for a bit less than a decade.