Somewhat counterintuitively, both equities and gold rose sharply today after the FOMC release of its September meeting's minutes.

However, gold should be viewed slightly differently in its rise versus the rise in equities.

Aside from some particular individual movers on the equities indices, the reason the markets are tumbling is because Europe is the first world's economic sick man right now.

As we warned on Friday, short covering and bargain hunters stepped in today and bid gold up. This is fairly predictable.