Gold moved sharply higher yesterday, which didn’t change much – the move was in tune with the previous performance of gold. The back and forth movement continues with no decisive action. It’s not that surprising given the time of the year, but things could get really hot at the beginning of 2015. The reason is the situation in the USD Index. Be prepared by accessing details in today's Gold & SIlver Trading Alert.

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Gold moved lower yesterday while the USD Index moved higher. The move in gold was nothing to call the home about – gold corrected a large part of the preceding trading day’s rally. However, the USD Index moved above the previous local high and further above its key resistance. Will the breakout in the USD be confirmed and will gold decline soon?

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The USD Index moved slightly above the key, long-term resistance level but gold rallied by almost $20 on Friday. We have seen several bearish signs in the precious metals market recently – is the above bullish enough to make the overall outlook for the precious metals market bullish?

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Gold silver and mining stocks didn’t do much yesterday other than provide a small continuation of the previous decline. The USD Index moved only a little higher but this little move was all that was needed to see the Index at the key, long-term resistance level. Will this trend be enough to keep the U.S. dollar’s rally in check?

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In the past days we wrote that if gold managed to disconnect itself from the USD Index, then the situation would become very bearish for gold as a possible top in the USD Index would not be a threat to gold’s decline. Yesterday, gold and especially silver and miners declined significantly without visible action in the USD Index. Is this “the sign”?

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