This morning, after the U.S. Labor Department announced the disappointing non-farm payroll report gold started to surge higher. The catalyst for the rise in gold is the anticipation and speculation of another quantitative easing program by the Federal Reserve. Today, the SPDR Gold Shares (NYSE:GLD) are trading higher by more than $5.00 from the pre-market low to $155.49 a share. 

The metal stocks continue to hold key support levels on their daily charts. Stocks like Goldcorp Inc. (USA) (NYSE:GG) and Silver Wheaton Corp. (USA) (NYSE:SLW) are into major support as shown in the chart below. These stocks have seen a dramatic decline in recent months as the Dollar has surged and gold and silver have fallen.

This afternoon, almost every major stock market index is trading lower on the session. Traders and investors are experiencing a very rare broad based decline. The one sector that is showing strength today is gold and the gold mining stocks. The SPDR Gold Trust (NYSEARCA:GLD) is actually trading higher by $1.88 to $161.25 a share.

This afternoon, spot gold is surging higher by $27.00 to $1689.00 an ounce. The precious metal took off to the upside after the Ben Bernanke speech this morning which stated that the Federal Reserve would continue with further accommodating policies. Gold is one of the best indicators that inflation is being created.