At its low the Dow Jones Industrial Average was down well over 900 points trading to a low of 25,523.38. Although it closed off of its lows the Dow lost 767.27 points today, which is a net decline of 2.90%, as it settled at 25,717.74.

Gold continues to exhibit all of the underlying features one looks for in a market which is deeply embedded in a rally to higher pricing. This market scenario in which gold pricing has been gaining value can be seen in both long and short-term studies.

The financial markets have been on a wild roller coaster ride over the last 48 hours. Yesterday the Fed announced it has cut its Fed funds rate by ¼%.