The gold market was very turbulent in the morning trade as the gyrations in the equity market clearly influenced what has become the predominant flight to quality instrument. However, during the sharp mid morning blip up in the US equity market, the gold market showed an aggressive setback in prices and that highlights the attention that the gold trade is giving to the stock market action. With gold prices just ahead of mid session sitting only $5 an ounce higher on the day, in the face of ongoing steep declines in equity prices and a flurry of extremely negative comments from various world officials, some of the gold bulls have to be disappointed. However, it is also possible that the gold market was temporarily overdone from a short term technical perspective. On the other hand, some foreign officials were forced to step forward in the Press and deny plans to close various stock markets and that would seem to leave a very large measure of anxiety in the marketplace. On the other hand, a rally in the Dollar could be troubling some gold bulls, especially with the depth of the deflation threat being presented in many physical commodity markets today. In other words, the gold market in the current environment isn't without some valuation concerns.