Gold falls despite weak Dollar

Commodities are falling, with the DJ-UBS Commodity Index testing support at 82.

DJ-UBS Commodity Index

Despite the Dollar Index breaking support at 100.

Dollar Index

Spot Gold followed, breaking medium-term support at $1240/$1250. A test of primary support at $1200/ounce is now likely.

Spot Gold

Breach of $1200 would signal a primary down-trend. Respect would confirm the primary up-trend. I still view gold stocks as a form of “Trump insurance” and am reluctant to part with exposure to this sector.

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