Gold

Some influences are temporal.

The president of the St. Louis Fed, James Bullard said that the American economy is nearing normal and a return to business-as-usual monetary policy is in the offing. Essentially, he's calling for higher interest rates sooner, rather than later.

Bullard claims that inflation (even by the standards of government statistics), is nearing the Fed-set target.

Before we start, a word about D-Day, June 6, 1944.

The western allies who landed on the beaches of Normandy helped to save the world from the worst modern menace it has known. Let's remember their courage and sacrifices and remind ourselves we live in a world of their making and not in some Nazi nightmare.

Today's bounce caught many gold bulls off guard. But, when you ponder that the European Central Bank took bolder-than-usual moves - very unexpected given their track record of under-delivering on big promises - traders could only react as quickly as possible.

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No wonder that gold is looking for cues.

There was a landslide of economic data released today in the U.S. and the picture of the economy is blurrier, not clearer, from the snapshot.