With the price of gold cooling off over the last week, the roller-coaster ride for both the SPDR Gold Trust (NYSEMKT:GLD) and for big miners like Goldcorp (NYSE:GG), Barrick Gold (NYSE:GOLD), and Newmont Mining (NYSE:NEM) is in full effect, and the rush back to gold seems over. A drop in demand would normally signal the end of a trend, but Dennis Gartman of "The Gartman Letter" urges us to think about gold in a new light – as a currency.

In the video below, Fool.com contributor Doug Ehrman discusses how gold might behave under this alternative understanding, the viability of such an approach for most, and the potential impact on the longer trend.