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.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
I imagine many readers see a lot of commentary relevant to gold and economics, and come up against Say's Law. Its importance might not be immediately obvious.