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There's something a bit unusual about how the USD index and gold moved yesterday.Yes, on a closing basis, the index made a new 1.5 year low and gold hit around 1068/69, but the gold move seemed muted. Even today, the index hit 75.45 or so and you almost expect a floodgate to upon and the index price to tank down to 74, but it didn't.This is not what has happened in the past. Whenever the dollar index broke through support, there was a major extension downward on the first break.It makes me almost buy into the theory the USD will be controlled in a managed way lower.good trading chemaes
All parties want a soft landing, including the Chinese and Japanese, so they can get rid of their USD holdings. Doesn't surprise me. Just allows for a leveraging up as gold and silver rise for those that have the guts to do so.JFC
I agree, last night watching the action before bed I was certain Gold would be over 1080 when I woke this morning. Looks to me that gold is even more managed then the dollar. Who would have guessed I'd think that? Haha!
Certainly has looked managed for the last few years.I'm glad I went into oil on the break instead of more SLW. I'll be taking profits off of oil and plowing it into SLW if the pullback is meaningful on PM's.That metallurgical coal hasn't gone anywhere today, but it's still holding up above yesterday's break. I think the goldman news brought everything down. Perhaps tomorrow is a better day.