When is a non-rate hike a rate hike? Today, the Federal Reserve decided not to raise rates in the “obscure” November meeting but left December on the table.

Gold took advantage of a strong current of uncertainty flowing through markets today that was based on three things. Wrapped around the uncertainty was a weaker dollar.

A slightly stronger dollar, recovering from the shock of a new probe of Hillary Clinton’s email faux pas, only nicked gold slightly, which late in the day was buoyed in regular trading. Gold is up about $3.50 per ounce.