USD rally fading so soon?Nearly all USD gains are threatening to get wiped out by the weekend. As most of us know, a bullish counter trend in USD puts additional pressure on gold ( along with large ECB sales ) This weakens the gold shares and scares off any additional investment. What surprises me is the utter weakness of each successive USD rally. As this precious metals bull unfolds, the USD finds shorter and weaker counter trend support. What this might suggest is that gold might challenge $700 before summer and the juniors see a upleg before the holiday period. IN any case...there is pretty decent support at around $670 -$672 and below that $660 -$662 so whatever happens it could be a short period of weakness.
What this means to Staccato? Well not much I guess, but it has been slow and mgmt has been maintaining "radio silence" Let's hope for some high grade mineralization and positive news releases when gold challenges $700 to give us a "double whammy" lift.
cheers...