Early today gold slipped into the mid 1150s, a testing ground for lower prices. However, in afternoon trading, gold has come off those lows and is trading in the mid-1160s, off $4 to $5.

In the run-up to default, Greek government negotiators kept hoping they could pull to an inside straight, the hardest hand in poker to nab. They’ve been surprised at every turn at how hard-nosed the French, Germans and others have played their hands, too.

The River Styx has turned into a set of dangerous rapids Greece, and some part of the developed world, must contend with. But maybe that makes little difference at this point.

When the euro began to tumble earlier today on the news out of Greece, the Swiss thought and thought as euro-investors streamed into the franc. Then the Swiss National Bank sold its own currency to make it less attractive as a haven.

The Shanghai stock index fell 7.3% today, taking mainland China’s equities to 4193, now off almost a thousand points from their high only eighteen days ago. That’s down 20% from June 8th. Trading was suspended for almost two hours to stem the drop but to no avail.

Can’t Find The Handle Today But You Can Bet It Isn’t Made Of Gold

What to make of a day when U.S. consumer spending rose its most in six years but equities worldwide, gold, and crude oil are all down? (Gold is down about $2.30 in late afternoon trading.) Additionally, currencies are trading mixed with no clear direction. Bond yields are up marginally.

It’s already time to focus again on the possibilities surrounding a Fed interest-rate hike. Yes, it’s like a zombie. Cut it, burn it, run away from it, bury it… it keeps showing up. (Maybe that’s more like your aunt and uncle from Toledo, but you get the idea.)

The U.S. dollar popped up strong and proud today beating back gold traders who tried in regular trading to move the yellow precious metal off its current down trend.

Will Greece default or not? That has been the question. But it grows less relevant by the day as U.S. and European equities shrug off the minor gravitational blip created by the little country dangling off the south of the continent.

For a variety of factors, westerners tend to view China’s rise to the top as inevitable. However, this certainly isn’t so when looking at the world’s supposedly second-largest economy. Today saw the Shanghai and CSI indexes plunge more than 6% each.