Gold update. . .

Gold pops on weak U.S. industrial output – down .6% in March – and reports that Germany is preparing for a Greek default.  Back over $1200 and trading strong . . . . .Also CityAM reports Greece finance minister Varoufakis is meeting with heavy-weight U.S. sovereign debt bankruptcy lawyers at Cleary Gottlieb.  Both sides appear to be structuring contingency plans (not a good sign).

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