Gold Up $50 Today

As a barometer of both inflation and fear (take your pick), what does this tell you is coming?

Gold: What a difference a day makes!

During the European session, gold has risen to a new all-time high price. Gold tends to be a place for investors to park their money during times of fear or inflation. Right now, both fear in the financial markets and fear of inflation seem to provide strong support for gold. The chart at right shows the rise to new, higher prices on the 15 minute chart.

The second chart, below, shows the daily chart. Note that the KLinger volume indicator has turned green again, indicating that buying has returned to gold.