Gold

After showing deep declines based on fears about Greece’s elections early in the day, the euro steadied and late in the day actually is showing gains against the dollar.

The precious metals, especially gold, were no match for the dollar, which has been howling and screaming like an F-16 to higher highs, faster and faster.

Despite facing tremendous greenback-strength headwinds today, gold and silver are hanging on to their gains in mid-afternoon trading. This is important because it means, among other things, that investors are feeling positive about precious metals as havens, and even as longer-term investments.

Markets seemed to take a breather today. The Dow was up 0.25% on anticipation of stimulus moves by the European Central Bank, and on news that United Health Care and Netflix reported better-than-expected earnings in Q4.

We have spoken about volatility for the last few weeks. Indeed, there is plenty of volatility and not of the type brought on by world events, or economic events, nor even tectonic shifts – as in a major innovation or reaction to one.

The volatility is being created in the financial sectors of many countries and/or regions.