The USD Index practically erased its Thursday's losses, and the precious metals faced stiff headwinds. Silver again outperformed gold, adding more strength to the signal it's flashing for quite a few days already. Yet, it was gold that gets the crown for presenting us with action of significance. We'll start today's analysis with the very interesting short-term action in the USD Index. It rallied as we had expected it to. The USD chart shows that the inverse head-and-shoulders pattern is developing in a symmetrical manner, which makes the pattern even more believable. Just as we saw two smaller bottoms in the first ... (full story)