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Gold is rising off the lows at the moment as the market sells off.
Some of the big Gold miners are up 5% today.

Is something big about to Happen?

On Thursday the Swiss National Bank removed their peg against the EURO. As they did Gold moved up.

That's OK until you realise that on the very time Gold topped out was the time they initiated that peg.

So does the Swiss National bank know something we don't and is the price of Gold about to move up?

Below is that chart so you can see how gold fell when the put the peg was put on and rose when they took it off.

The double arrow shows the the timing of the top in Gold at the same time as the peg.

The news that moved the markets this morning.

The Swiss National Bank (SNB) stunned markets on Thursday, when it scrapped its three-year-old peg of 1.20 Swiss francs per euro.

In a chaotic few minutes after the central bank's announcement, the Swiss franc soared by almost 30 percent in value against the Euro.

The franc broke past parity against the euro to trade at 0.8052 per euro, before trimming those gains to stand at 1.0350.

The move also hit European equity markets hard, with the Swiss benchmark stock index falling by more than 13 percent.
"Pressure had been building on the cap for weeks, but the decision to scrap it so abruptly had markets reeling, with the DAX dropping by 250 points in a matter of minutes

I took this new cover photo from my bedroom on the Palm early one morning.

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