Short coverers and bargain hunters decked the halls today and drove gold prices up by almost $20 (as of 4PM in New York). As we have warned recently, this is a volatile time of year and today proved the point.

Well, not so much gold and crude. Pricing continues under pressure for those two leading commodities and the end of the downward push is nowhere in sight.

The news today is dominated by the revision of U.S. GDP to reflect 5% growth in the third quarter. After starting the year in the negative by -2.1%, the world’s biggest economy has become a roaring beast out of a story legend.