The dollar index is falling below 90 and is currently at 89.3. This has shot gold up to 1353 as of the moment and has shot up silver a greater percentage as it is up about 40 cents to 17.40. With the dollar breaking down, this will put upward pressure on commodities which should allow for gold to continue upward even with its bearish looking commitment of traders report. Oil is looking extremely bearish on the commitment of traders report but with the dollar breaking down, this too could move upwards but i wouldn't bet money on any moves weather up or down. I previously said 1350 level in gold may be a good opportunity to sell but with the dollar perhaps going into free fall, than I think you may miss out on some gains by selling now. ill update when gold is starting to look like its hitting a ceiling, it may only go up to 1365 which is resistance, and when it breaks out above that level 14-1425 will be hit not long after if its a true breakout.
