It is certainly looking like gold has lost its mojo. When a market no longer responds with higher prices to events that are normally seen as a positive, then it is generally a signal that a once bullish trend is over.
The markets were given a sharp reminder of the euro's weakness at the beginning of the week as political problems once again flared up. But such eruptions have actually proved beneficial for the single currency over the long-term.
The global bond market disagreed with Moody’s Investors Service and Standard & Poor’s more often than not this year when the companies told investors that governments were becoming safer or more risky.