Gold Doesn’t Like a Rising USD

With the European liquidity/solvency crisis in full swing and major disappointment from the markets on the Fed’s announcement, it looks increasingly likely that the USD will continue to catch a bid.

A likely casualty of a higher dollar is gold:

Gold and USD

Note that prior periods of USD strength have taken the wind out of gold’s uptrend. With the 150 day moving average and the long term uptrend sharing the $1,600 that area looks like the most probable target for this consolidation.

TTD Admin
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