Gold continues to gain ground with very strong technical potential to move substantially higher. Over the last five trading days, gold hit a bottom at approximately $1621 and gained well over $100 in a short time.

Yields on U.S. debt instruments such as the 10-year note, and 30-year bonds have been rising as the Federal Reserve has raised interest rates at each of the last FOMC meetings since March of this year. Currently, the Fed funds rate is between 3% and 3 ¼%.

Today key reports released in both the United States and the Eurozone revealed what global citizens have been acutely aware of. Inflation continues to spiral higher and at a staggering level.