It's A Tradition... It's A Religion...It's A Barbarous Relic... It's $1,650

This the intraday chart of spot gold. Whether the surge is due to JPMorgan's outlook on 2012 GDP, to Fitch saying it does not rule out revising the US outlook to negative by the end of August, or to Gross finally admitting QE3 is possible, is irrelevant. Our work here is done.

And just in case, here is a two day chart.