Gold pattern pointing up, page-1202

there you go ayyy,,,two days of monster FX moves in Euro and USD and rates

USD headlines down, AUD POG barely changed with all the moves.

Oil broke down in headline which is good for the gold miners

Gold falls below 200 and 100dma on the weekly

amazing what happens when the euro and aud fall roughly 2 cents..

Gold took the headline hit when housing starts reported a 20Pc monthly surge to the highest level since 2007 in april, which of course then didn't reflect WALmart a major indicator of consumers in the USA showing a big fall in their quarterly which ended in the month housing start exploded.

Gold imo simply reflected the monster FX changes in 48 hours following QE and further action talk by Super Mario who just was not appreciating a Euro lifting towards 115v usd.

short term there will probably be pain in xjo as BBY's hangover has a day to go, plus there is futures expiry.

100dma 1211 not far away, but already gold appears to be written off by traders.

pog aud close to last QTr average despite the daily swings.

GL