Gold had quite a week, posting a 3% rally and sporting the look of the beginning stages of a parabolic run. After such a choppy few months in which gold bugs had their hands slapped every time they were stuck into the cookie jar, I wouldn't be surprised if this thing just ran away from them without allowing for a comfortable entry.
Our little yellow friend had help from the dollar, which posted a surprise drop... a surprise to those who believe it was set for new highs, that is.
Furthermore, recent breakouts in both palladium and platinum suggest more to come from this precious metals rally:
Stocks, on the other hand, are overdue for a correction that will at least relieve overly-bullish sentiment.
I say "brief" because I expect dollar weakness to fuel a larger run to highs before this cyclical bull ends.