Wow, gold took a big jump up in the past few hours, hitting $1274 so far. This seems to mirror a spike in the Euro. Which means a falling dollar. What exactly is causing this is not clear to me yet. But it shows the traditional inverse relationship between gold and the dollar.

Could this be the beginning of the move to $1350 - $1400? Maybe. Or it could be a temporary short squeeze with a subsequent drop.  Silver is clearly above $20. More soon.