The gold market showed a significant upward thrust in the face of the initial washout on Wall Street. In other words, the gold trade was right back into a flight to quality mode again despite the fact that the US Dollar was soaring and oil prices were very under significant pressure. In fact, broad based deflationary pressures was being seen in a wide array of futures markets and that in turn did seem to tug gold prices back off their highs just ahead of mid session. Clearly the ebb and flow in the equity markets was impacting the gold market, as the mid morning but mostly muted bounce in the equity markets seemed to coincide with a $20 per ounce setback in gold from its morning highs. Apparently talk of central bank intervention dampened flight to quality views, but many traders are expected to watch the ultimate direction of equity prices into the close today for clues to the near term direction of gold prices.