One day obviously doesn't make a pattern.
I would suggest they will re-align some what, but I expect gold to out perform currencies over the next few months be that going down less or going up more. The main reason for that is seasonal. I also get the impression the USD trade is a bit overdone, for now at least anyway. The fact that people are now calling a 10 year reign of the USD & the inverse for commodities gets the contrarian in me going. I think the USD will probably come back stronger again in the short to medium term, but I don't think the US are that comfortable with the sharp increase in the USD either & the impact will be starting to be felt in the economy this quarter.
Could be talking my book, mind you I wouldn't be positioned that way unless I believed it.
