Gold

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.

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Gold saw a bit of recovery today. about half of it from dollar weakness, half from regular trading. For the moment the bleeding is stanched.

This week is going to see some key economic data released and the waiting game has begun.

If it wasn't pathetic and hadn't affected tens of millions of people, the Institute Of Supply Management's bungling of their own statistics today would be funny.

But their mistake revealed a lot of information to gold traders.