The pattern that has repeated without fail in the last two months is for gold’s rally attempts to be cut short by a surging U.S. dollar. This pattern is becoming consistent enough to frustrate the hopes of the gold bulls. However, as I’ll argue in today’s report, the gold outlook isn’t completely determined by the dollar. While gold remains vulnerable to increased volatility in the short-term due to U.S. currency strength, its intermediate-term (3-9 month) outlook is still favorable thanks to its strong fear component. This in turn should keep the gold price buoyant enough