What a powerful sign from gold and the USD Index! It was just yesterday when I wrote that the gold-USD link is likely to be back and that gold can decline even without USD’s rally or during its consolidation, and yesterday’s session already confirmed that this is indeed the case. Gold did erase its overnight declines – that’s true, but that’s not the key thing about yesterday’s session. The key thing is that gold ONLY retraced the declines while the USD Index declined in a visible way. This means that: Gold price reacted to what happened in the USD Index Gold price’s reaction to what happened in the USD Index showed ... (full story)