We viewed this as very technical ... very chart-based.

If you look at the chart, C$1.17 has been a difficult level to break for a while.

It was a perfect storm for gold today. Lower dollar. Higher oil prices. Base metals rallying. Commodity interest across the board. Funds are not afraid of buying on new highs.

We saw the writing on the wall as we started slowly in the early part of the day inching through some key support levels and when that type of attitude never stopped, it just continued and hit stops below different levels.

The chart of oil priced in euros is not a pretty picture,

If they feed the mice corn it goes right off the chart — the cancer growth just skyrockets.