Nothing New in Gold, but Big News FOR Gold

From goldpriceforecast.com

Gold price didn’t do much yesterday, but USD’s comeback above the 61.8% Fibonacci retracement has major implications for it. There are times when gold and the USD Index move in the same direction, but in the vast majority of cases, they move in opposite directions. This makes perfect sense, because no asset’s price can move completely independently from the value of the currency that it’s priced in (as long as it has a global market). If the value of gold remains more or less the same from the point of view of non-USD-buyers, then if the value of the USD increases, it makes sense to pay fewer of those ... (full story)