The new calm that is working its way through the Euro Zone may have triggered a huge drop in the gold market and the subsequent rally in the Euro. Traders are saying this move was triggered by the unwinding of Euro-Gold spread trades which were placed when traders bought gold in Euros during the currency crisis. Traders are now taking profits on this trade or cutting losses now that the Euro has begun to rise. If gold continues to sell off then look for spread unwinding to continue to underpin the Euro. (full story)