Hi Folks,
I'm not much good with the whole chart thing but IMHO the current POG movements are all about DXY Index. I reckon below (USDXY Index in blue Comex Gold futures in yellow) demonstrates it to some extent. If and when this changes we may see a more significant push higher. There are some gold experts who argue that POG has short, medium and long term drivers. So we need the medium and long term drivers to start kicking in. Right now it's all about short term action. That's why we have these spikes on (some) US news but then it just fades back to the medium term trend. That's also why the big picture looks so terrible but it hardly registers on where the price is leading. Anyway, see what you think...
