The inverted yield curve, which sent the stock market reeling yesterday, made gold one of the few safe havens.

Funds are buying gold because they notice the decoupling from the euro and the decoupling from the energy market.

Gold is a safe haven. We have major political problems in Iran and energy problems in Nigeria.

We haven't seen these violent moves [in prices] in several weeks.

Silver has new sponsorship. We are starting to see new funds coming into silver. Part of it has to do with the fact that a lot of traders who follow gold and silver think the silver/gold ratio was out of kilter.

They actually ran a very good, under CFTC oversight and under exchange oversight, futures business, where all customers were always properly margined.