The Gold Report: What is the consensus among Haywood analysts on what 2012 will bring for mine commodities, particularly precious metals?
Joe Mazumdar: Last year, risk aversion was a common market theme. In 2012, some of the same global economic concerns, such as the ongoing Eurozone crisis and the future of the euro, will continue to draw attention. But we also believe there is potential for positive economic indicators, primarily from the U.S., where there have been upticks in manufacturing and GDP growth. Also, unemployment in the U.S. is down to 8.5%, generating some consumer confidence.

March S&P E-mini Futures: Today's day session range estimate is 1329-1343. The longer term trend is upward. A rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370.

QQQ: Headed for 63.

TNX (ten year note yield): The 10 year yield has started a move to 2.50%.

Readers will scarcely have given any thought to the fact that they have never lived in the system of government argued for by Madison, Jay, and Hamilton in the Federalist Papers.

Focus on other data, and risk aversion, in the FX market

Initial jobless claims fell last week, but the news isn't spurring risk appetite. Instead, forex traders are focusing on other news right now.

SPDR Gold Trust ETF (GLD) ; focus on the facts1) Red arrows (old resistance level) is now our main support level (green arrows)2) Last key support is clear3) Re entry is clear4) Is the uptrend over ? Hard to tell since we could be facing a long sideway pattern before heading higher again.5) Watch the $USD Dollar .....