Gold advances as the Dollar falls

The Dollar Index continues its downward spiral. Narrow consolidation at 97 is a bearish sign. Breach of support is likely and would indicate another decline. The primary down-trend has a medium-term target of the 2016 low at 92/93.

Dollar Index

Spot Gold broke resistance at $1260, signaling another advance, with a target of $1300. Reversal below $1250 is unlikely but would warn of trend weakness.

Spot Gold