Despite Signs To The Contrary, Gold At Or Near Top
The thing that most likely raised quite a few eyebrows this week was – in addition to gold’s recent move by itself – the fact that gold rallied mostly without the dollar’s help. Yesterday (Jan. 5) I wrote that one swallow doesn’t make a summer and that a single session rarely changes much. We didn’t have to wait for long – the situation seems to be getting back to normal. Figure 1 – COMEX Gold Futures Gold Rallied Only Insignificantly HigherAfter the January 4th rally, gold moved only insignificantly higher, and it’s even a bit lower in today’s pre-market trading. Figure 2 – USD Index While th...