I am expecting POG to be over 1350 in four weeks time and wont be surprised if it even occurs next week when Chinese return from holidays, so won't be betting against my own feelings. But that is not because of anything to do with USD, nor a helping hand to DB, but because investors are looking for better returns than bonds, which are turning negative world wide.
Mind you POG was fluctuating 10 to 20% in the months prior to the September 29, 2008 crash. 11th September,2008 POG low of $US740 to 23 September high of US900 so the road becomes more bumpy as the dangers of economical turmoil increases.
But suggestions that banks forced the price of gold lower when Chinese were on holidays to recover from the massive shorts they hold, makes sense.
EVN Price at posting:
$2.23 Sentiment: Buy Disclosure: Held
(20min delay)