The pattern we've seen fundamentally in the current rally is continuing today.

Until Europe acts, as German President Angela Merkel has indicated her country will finally do, the world will be in stasis economically. Europe and the U.S. are inextricably bound together financially, economically, culturally and historically.

U.S. equities certainly sent their invitation to gold today to act like a high-quality haven investment, but the trading gods went against us late in the day and, after 1232+, we've settled back down for a modest $2.40 rise.