{"id":15200,"date":"2017-04-28T19:25:39","date_gmt":"2017-04-28T23:25:39","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=15200"},"modified":"2017-04-28T19:25:39","modified_gmt":"2017-04-28T23:25:39","slug":"weak-dollar-strengthens-gold-outlook","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/04\/28\/weak-dollar-strengthens-gold-outlook\/","title":{"rendered":"Weak Dollar strengthens gold outlook"},"content":{"rendered":"<p>The Dollar Index broke support at 100 despite strengthening interest rates, warning of a down-trend. Target for a decline would be the May 2016 low of 93.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Dollar Index\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-04-28-dxy.png?w=525&#038;ssl=1\" alt=\"Dollar Index\" \/><\/p>\n<p>China has burned through a trillion dollars of foreign reserves in the last 3 years, attempting to support the yuan. I believe the sell-off is unlikely to abate and plays a major part in the Dollar&#8217;s weakness.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"China: Foreign Reserves\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-04-28-china.png?w=525&#038;ssl=1\" alt=\"China: Foreign Reserves\" \/><\/p>\n<p>A falling Dollar would strengthen demand for gold. Spot Gold is retracing from resistance at $1300\/ounce and is likely to find support at $1240\/$1250. Respect of support would suggest another advance; confirmed if gold breaks $1300.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Spot Gold\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-04-28-gold.png?w=525&#038;ssl=1\" alt=\"Spot Gold\" \/><\/p>\n<p>Spot Silver displays a more bearish medium-term outlook, however, with a stronger correction testing support at $17.00\/ounce. Breach of support would test the primary level at $15.65 and warn of further gold weakness.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Spot Silver\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-04-28-silver.png?w=525&#038;ssl=1\" alt=\"Spot Silver\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dollar Index broke support at 100 despite strengthening interest rates, warning of a down-trend. Target for a decline would be the May 2016 low of 93. China has burned through a trillion dollars of foreign reserves in the last 3 years, attempting to support the yuan. I believe the sell-off is unlikely to abate &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/04\/28\/weak-dollar-strengthens-gold-outlook\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Weak Dollar strengthens gold outlook&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41,9,34,35],"tags":[675,1073,3204,3206],"class_list":["post-15200","post","type-post","status-publish","format-standard","hentry","category-china-hk","category-gold-precious-metals","category-us-canada-countries-regions","category-us-dollar-index","tag-china-foreign-reserves","tag-dollar-index","tag-spot-gold","tag-spot-silver"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Weak Dollar strengthens gold outlook - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weak Dollar strengthens gold outlook - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The Dollar Index broke support at 100 despite strengthening interest rates, warning of a down-trend. Target for a decline would be the May 2016 low of 93. China has burned through a trillion dollars of foreign reserves in the last 3 years, attempting to support the yuan. 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Expect this to hold. Breach of the rising trendline would warn of a correction but this seems unlikely with the Fed intent on normalizing interest rates. Breakout above 2.50% would offer a target of 3.0%. The Dollar Index rally remains muted since\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15176,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/04\/21\/gold-advance-likely\/","url_meta":{"origin":15200,"position":1},"title":"Gold advance likely","author":"ColinTwiggs","date":"April 21, 2017","format":false,"excerpt":"The Dollar Index continues to test support at 100 despite strengthening interest rates. China's sell-off of foreign reserves to support the Yuan may be contributing to this weakness. Spot Gold is consolidating below resistance at $1300\/ounce. A more confrontational US foreign policy is contributing to global uncertainty and demand for\u2026","rel":"","context":"In &quot;Chinese Yuan&quot;","block_context":{"text":"Chinese Yuan","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/chinese-yuan\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14975,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/03\/17\/gold-rallies-as-dollar-falls\/","url_meta":{"origin":15200,"position":2},"title":"Gold rallies as Dollar falls","author":"ColinTwiggs","date":"March 17, 2017","format":false,"excerpt":"The Dollar Index rally is falling despite rising interest rates. Chinese sell-off of foreign reserves to support the Yuan may be a factor. Spot Gold rallied off support at $1200\/ounce. Recovery above $1250 would confirm an up-trend, with the next target at $1300.","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40679,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/02\/01\/gold-rises-on-central-bank-purchases\/","url_meta":{"origin":15200,"position":3},"title":"Gold Rises on Central Bank Purchases","author":"Colin Twiggs","date":"February 1, 2023","format":false,"excerpt":"Demand for gold is rising, reaching 1,337 tonnes in the fourth quarter of 2022. The primary reason is an uplift in central bank purchases, exceeding 400 tonnes in each of the last two quarters. Economist Daniel Lacalle attributes the increase to central banks moving to protect their balance sheets from\u2026","rel":"","context":"In &quot;Gold &amp; Precious Metals&quot;","block_context":{"text":"Gold &amp; Precious Metals","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/gold-precious-metals\/"},"img":{"alt_text":"Gold: Central Bank Purchases","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-31-gold-cb.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-31-gold-cb.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-01-31-gold-cb.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":16888,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/24\/support-for-the-yuan-lifts-gold\/","url_meta":{"origin":15200,"position":4},"title":"Support for the Yuan lifts Gold","author":"Colin Twiggs","date":"August 24, 2018","format":false,"excerpt":"China's PBOC stepped in with belated support for the Yuan, holding the line at 14.5 US cents. The Dollar retreated, with the Dollar Index testing support at 95. Respect of support would confirm another advance, with a long-term target of 103 \u2014 if central banks like the Fed and PBOC\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13439,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/08\/gold-strengthens-as-dollar-weakens\/","url_meta":{"origin":15200,"position":5},"title":"Gold strengthens as Dollar weakens","author":"ColinTwiggs","date":"June 8, 2016","format":false,"excerpt":"Long-term interest rates continue their decline, with 10-year Treasury yields testing support at 1.65 to 1.70 percent. Breach would signal a test of the all-time (July 2012) low of 1.40 percent. Gold rallied in response, breaking initial resistance at $1250\/ounce to signal a test of $1300. The Chinese appear to\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"10-year Treasury yields","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-09-tnx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-09-tnx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-06-09-tnx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=15200"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15200\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=15200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=15200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=15200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}