Why Is Gold Breaking Out?

Gold is up big today and trading like the monetary printing presses are ready to kick into overdrive.    We believe the recent Fed speak about QE3, possible BofJ intervention to weaken the yen, and  growing expectations that tomorrow’s announcement by by the EU may fall short and force the ECB to monetize bond purchases are contributing to the move.  In addition, given the recent PMI data out of Europe,  the ECB may be forced to ease sooner rather than later and even hearing hints and rumors floating around the ether of China easing.