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Gold and USD Index Break Higher Together – What Gives?
Gold’s moving higher and… the USD Index is moving higher as well, which one is faking it? In the recent past I commented on gold’s performance as being similar to what we saw in 2011. Today’s move higher makes the similarity less clear, but still intact. chart As a reminder, back in 2011, gold consolidated for over 40 days, then it rallied sharply, and formed a double top, with the second top being slightly higher. Right now, gold is after over 40 days of consolidation, a sharp rally, and a double top, with the second top being slightly higher. chart The huge volume accompanied analogous days, so the ... (full story)