Europe Crumbles: Gold Watches

Portugal rates this morning have gone through the roof as the bond market appears to be cornering its next victim in need of a bail out. (It would be Portugal's second bail out)

Rates on the 10 year bond have crossed 13%.

Irish (next up), Spanish, and Italian rates are all sharply higher as well.

Gold has taken a look at the 4 country bond massacre and is rocketing higher once again today. ($1,530)