Gold has not broken the short term downtrend yet. It almost looks like it is rangebound in its attempt to break that nasty overhead resistance that the bullion banks are defending. The next credible attempt will be the fourth, and it would likely be successful in most markets.
“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception