To say today was a risk-off day is a lavish understatement. It was a classic risk-off day, in fact.

Why classic?

Luckily for gold bulls, the doomsayers were out in force today raising a ruckus about the unexpected bump up in producer prices.

There is some hope for gold despite the dollar's strengthening against the euro.

"Regular" trading lifted gold by about 0.2% today, demonstrating that investors and traders are showing modest faith in the chief precious metal.