A little TA on Gold and USDThe USD is running into resistance at .90 while gold is approaching support at $900. Something will give shortly.
My bets are on Gold bouncing and the USD tanking.
When you are at these crossroads times like now it is sometimes good to look at the long term trend and consider if the fundamentals are forecasting a change.
Since Bush became president in 2001 the USD has fallen about 40% while Gold has risen 400% this is the long term trend. Fundamentally the US has had a change in president and ruling political party. This president promised change. In my opinion Obama can be looked at like Bushlite. His appointments and early actions are little more then a continuation of the past policies and dead end ideas that put the USA were it is now. Hillary Clinton today has come out to say that Iran is a threat to the mideast. Coming from the country that has killed a million Iraqies, flies unmanned drones to kill Pakistanies, kills Afganies, and supports Israel that tests weapons systems by killing 1,000 Lebanese and 1,400 Palentinians, this must be some kind of a sick joke considering Iran has been a peacefull country unless attacked. The BS about Iran coming out of the USA is much like the BS leading up to the Iraq war.
That being said I really don't see anything fundamentally changing in the USA that will influence the long term trend in Gold or the USD. Technically watch the USD as it approaches resistance and Gold that is at or near support.
Good luck Goldbugs.