It looks like the long awaited dollar rally in in the cards as long as OPEC holds it's production levels.
Where would this put Gold...?
With this being election year... the dollar wandering in an upward fashion and assuming the cartel keeps the black gold flowing... I will put my chips on... the 700-750 ballpark.
OPEC meets again in December and I think a cut will most defiantly materialise, gold will go where it belongs with the printing presses doing double shifts, and it will be time for America to pay the Piper.
"The US dollar has broken the monthly downtrend line. Odds are this is the real deal, regardless of what anyone thinks about the fundamentals. As for me, I think the US dollar is reacting in a positive fashion for good reason. That reason is not that the dollar is any good (it most assuredly isn't), but on relative basis the Euro, pound and other currencies were simply priced for perfection and perfection cannot be found anywhere.
The horizontal line at 80, depicts the former decades long support line that now acts as resistance. If that is taken out a move to 85 or even 90 is likely in the cards.
The US dollar is rallying, treasuries are rallying, the 30 year long bond is near an all time low in yields, the stock market has resumed its collapse and commodities continue to get crushed. Inflation is nowhere in sight."