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Precious metals traders had almost despaired of ever seeing a currency-driven rally in the gold price this year. Yet, for the first time since June, gold finally has the support of its currency component. A weakening U.S. dollar index has paved the way for gold bulls to once again assert control over the metal’s short-term trend. In this report, we’ll review the evidence in support of gold soon breaking free from its 10-week holding pattern.
Most of the gains made by the gold price this year were made despite a strengthening U.S. dollar. This was