Gold rallies but Dollar bottoms

Rising uncertainty has fueled an extended Gold rally. Respect of support at $1200/ounce suggests another advance, this time to $1300, but a lot will depend on the Dollar.

Spot Gold

The Dollar Index, however, found support at 100. Respect would suggest another advance and a primary up-trend. With bearish consequences for gold.

Dollar Index

3 thoughts on “Gold rallies but Dollar bottoms

  1. michael mccreary says:

    I have to post this as I don’t know how many us citizens know what is really going on.

    My opinion at this time in the markets and our “potus”, along with the current republican party are as follows. As the market has no relationship to the current findings of Flynn, Trump and the administrations but when they do come together with the announcement of treason, ie, Trump knowing everything and saying he asked for Flynn resignation is a lie just like everything that has been said by all the spokesman and spokeswomen. The republican party does not care about what the current president does. All they have in their minds is to repeal everything, like dodd frank, Obama care, affordable care act, planned parenthood and reducing the tax paid by the top 1% wealthy people in the united states. When all this comes to head like a white head pimple ready to pop, it will be a real mess as the American economy at that time will be in total disarray and the earnings and other corporate news will be hidden from the news of the fall of the American political events showing up around the world. Keep watching the real news, MSNBC to see what is really happening. My opinion of FOX is pure hogwash. I watch it once a week for about one hour to see what they are lying about. Lou Dobbs is the most uninformed news broadcaster in my opinion and should feel ashamed to be paid so much money to lie.

    Now the dollar will continue to rally according to my technical analysis from looking at the 20-year chart.

    I use the Wolfe Gann wave theory to show the waves the dollar could do in the future.

  2. michael mccreary says:

    I technically look at the 20-year chart and see the dollar can run up to $1.20 area from now until the year 2019. Therefore I have shorted gold short term using GLD from 117. Exit at or near 114. Good luck to me. I can’t stand trump and the way he treats his wife. You will never see the trump family live in the white house and get a dog. My opinion is to impeach him ASAP.

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