For the first time in weeks, gold investors have reason to smile after the metal’s latest rally attempt. The reversal process of gold’s 10-week decline, however, has only just begun and faces some hurdles before a renewed buy signal has been confirmed. In today’s report, we’ll discuss the most requisite factors for gold’s next extended rally. As I’ll emphasize here, the most important one is a reversal of the dollar’s immediate-term upward trend.
The July gold futures price posted its highest close in almost two weeks on Apr. 26. There is some question as to