Earlier we noted [2] Gold's seeming clairvoyance with regard the expansion of the Fed and ECB balance sheets over the last few years. It seems the EUR strength overnight (or stop-run) has provided just enough USD weakness impetus to nudge spot Gold (not futures) back over $1700 for the first time since March 13th.
Spot Gold breaks $1700...
[3]
and leads Fed/ECB balance sheets higher on expectations of more printing...
[4]
Charts: Bloomberg