“If I had a world of my own, everything would be nonsense. Nothing would be what it is, because everything would be what it isn't. And contrary wise, what is, it wouldn't be. And what it wouldn't be, it would. You see?”
Lewis Carroll, Through the Looking Glass
The Year-To-Date trading range in gold is particularly well-defined, from about 1200 to 1300.
Silver has a less well-defined range, with a secondary declining trend.
The Dollar has just done a swan dive as measured in the DX index.
I would suggest that a breakout in gold will be characterized by a sustained price move above 1300 that manages to hold its ground and advance to take out 1350.
For silver a break above 18.50 would be constructive, although the silver bulls might take *some* encouragement from a successful challenge of the intermediate downtrend which is now around 17.50.
I suspect that the decrease in the value of the Dollar involves a policy move intended to make US exports more competitive, meaning no disrespect to the euro which has been in a corresponding rally based on what, their zombie banking system, or dysfunctional political/economic construct?
Or perhaps it is the reaction of the world to the wild and wacky reign of The Mad Hatter.
