Nobody is really talking about the big surprise of today’s rally in the gold market.
Here are two images that illustrate the big surprise in today’s rally in the gold market:
The US Dollar rallied almost half a percent…
But gold didn’t care, tripling dollar’s percentage gain
We will have to wait and see if today was a turning point…
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In the meantime, here is a look at at the HUI Gold Mining Index (see chart below):
HUI holds bullish 50-week moving average breakout!
Note how the HUI has already broken out and is simply backtesting its 50-week moving average, which is textbook action after a bullish breakout (see right hand side of above chart).
The Bottom Line
The bottom line is that when the dollar rallies and yet the gold price triples the dollar’s gain because traders no longer care about dollar strength, it is important to take notice. It will be interesting to see how both gold and the dollar trade in the coming weeks and months.
***KWN has released the timely and powerful KWN audio interview with James Turk and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Is This Why The Rally In Gold & Silver Is Happening? Shocking Game-Changer For Gold & Silver Is Now Unfolding CLICK HERE.
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