#futuresnow

Despite the two Ginormous headwinds Gold Futures have seen this week, Gold is $50 higher off of the lows put in very early in the morning on Monday of this week.  Gold Bears may have to crawl back into the cave soon as the glittery metal refuses to get knocked down.  The Rocky Balboa of Futures if you will...

Jackie DeAngelis leads the conversation with fellow CNBC Contributor Brian Stutland and myself on where Gold is headed.  I argue that the Gold Bears continue to scratch their heads as we have not seen bullion go lower despite the assistance of the failure of the Swiss referendum late last Sunday evening and the robust Unemployment number of a +321k.  Technically we look to the low of last New Year's eve of $1181 to be supportive.  Moreover, we are seeing some buyers globally sneak in bids above the "Cost of Production" mark of $1150ish.