Despite the horrendous negative economic growth in the first quarter in the United States, equities kept up their purring as if they were a 16-cylinder engine tuned to perfection.

When the dollar strengthens, there is little hope for gold to likewise do so.

Dollar strengthening means generally that the U.S. economy is strengthening. That bolsters the buck.

There was far too much good news in the U.S. today for gold.

There was too much renewed risk appetite in the equities markets.

There is a rumor China wants to run the gold markets.