Gold descending triangle

The Dollar continues to test resistance at 97.50, threatening a breakout. A strengthening Dollar weakens demand for Gold.

Dollar Index

Spot Gold has formed a descending triangle, testing medium-term support at $1280/ounce. The bearish formation and declining Trend Index warn of selling pressure. Breach of $1280 would offer a target of primary support at $1180.

Spot Gold in USD

Silver is likewise testing medium-term support at $15/ounce, warning of a decline to $14.

Spot Silver in USD