Here's a little gold puzzle for you to ponder as you're getting ready for the weekend. See if you can figure it out.
FEB14 gold shot up this morning, trading up $27 to $1,261. $1275 is our next key target and resistance level. Gold now looks like it could have some momentum to the upside, and possibly approach $1,290.
Equities continue to press higher as the cash S&P reached a new record in yesterday's session. The major focus remains the FOMC meeting next week, where an increasing number of analysts believe the Fed will begin scaling back its bond purchases.
Wall Street faces intrusive new government oversight of trading after U.S. regulators issued what they billed as a stricter Volcker rule today, imposing restrictions designed to prevent blowups while leaving many of the details to be worked out later.