With precious metals markets closed in New York today in honor of Martin Luther King, Jr., movement in gold was limited.

In overseas markets, gold was down $3.10, a number that would have been larger if not for some U.S. dollar weakness.

Gold continued its rise today, touching 1283 before backing down to a less-heated 1276. Upside was only limited today by the weakness of the euro in the face of a strong dollar. There was also some automated selling once gold hit its high.

Today will always be known as the day of the “Swiss Surprise.” The Swiss tore the cap off their franc’s valuation in a stunning move that has had traders all around the world scrambling to dump short positions they held in the currency.