Today, oil took another licking and gold came along for the ride. The dollar was up strongly once more, except against the British pound. Contradicting the usual expectations, U.S.

You Say Stop And I Say Go Go Go

So, sang the Beatles back in the day. They had a point about contradictory flows of feeling and thought, just as we have now in the precious metals markets.

Equities were up a small amount today amid cautious holiday trading, but the U.S. dollar continued its climb to supremacy, helping push gold lower. But the dollar doesn’t tell the whole story today for gold.