As you can see, gold was pushing much higher this morning, up to $1270, and silver to 17.60, and then they were slammed down rather hard by selling. Some will say that this was because the ECB had done nothing in their meeting today. Nothing that is, except to continue to provide unprecedented stimulus designed to prop up their financial sector while doing little for the broader public economy.
Financial assets in the US like stocks are being pushed steadily higher for some time now, I believe as either an instrument or an artifact of the bubble-nomics being promoted by the Federal Reserve and the Administration. One tries to provide some semblance of prosperity for the sake of perception management, while others cash in based on their information about what is happening.