Here Is An Important Look At The Big Picture For Gold And The US Dollar

With Dow rallying along with the dollar, here is the big picture for gold and the US dollar.

Dollar Doldrums
April 12 (King World News) – Here is a portion of an important note from Jason Goepfert at SentimenTrader:  “Two years ago, there was more than $250 million invested in the Rydex Strong Dollar mutual fund. Now it’s down to a lowly $7.9 million, a decline of 97% (see chart below).

Bullish Rydex Dollar Bets Collapse 97%!

The PowerShares DB US Dollar Index Bullish Fund had more than $1.4 billion in assets, now down to $493 million. Both funds are holding near their lowest level of assets in at least 7 years…

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This is typically a good contrary indicator, though it would be better as a timing signal if we saw a sudden interest in the inverse funds, like the Rydex Weak Dollar fund. So far, not so much (see chart below).

Dollar Rydex Bear Bets Remain Tame

The Big Picture For Gold
King World News note: Up to this point the price of gold has been capped on rallies and has remained trapped in a tight range. If a substantial dollar rally unfolds, it would be used by the bullion banks, who work as agents for the Federal Reserve, to take the price of gold lower. For now, KWN will continue to keep an eye on commercial positions in the gold market.

Games aside, time is running out for the manipulators playing games in the paper market because the long-term charts are incredibly bullish for gold. When $1,400 is taken out on the upside, the real fireworks will begin.

The charts and part of the commentary above are from SentimenTrader. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.

***Also Just Released WARNING: Things Could Get Dicey Quickly But Silver Is Poised To Do Something Big On The Upside CLICK HERE.

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