On rumors that physical demand for gold would be resurgent in China and Iraq, prices rebounded a bit.

This happened in spite of the fact that there was a healthy jump in the value of the dollar, which took a few bucks off the price of gold.

The equities steamroller just keeps flattening everything in sight. Of the nine exchanges across the globe, only the Nikkei in Tokyo showed any softness.

Gold fell again today. This time it was after extremely dovish statements by Fed chairwoman Janet Yellen. It leaves us scratching our fundamental heads.