At least for today, equities and the continually gyrating price of crude oil decoupled, leading to similarly unexpected results in other markets. Even the two benchmark oils couldn’t get on the same page.

Gold turned significantly lower because of the good bounce in equities and a round of profit taking. Fundamentally though, for gold, not much has changed.

It’s easy to define the “what?” and the “how?” of today’s markets. Let’s start with the astounding leap in oil. The “why?” will be elusive? But do read on. The answer is below – far below.