There has been a whole lot of chatter about how gold is going to go down because the dollar may be bottoming. We believe that there is a significant probability that the reflexive anti-gold/pro-dollar trade is wrong. Gold has been in a bull market in all fiat currencies over the past 10 years, not just dollars.
Here at Running of the Bulls we are bullish
First, it looks like the dollar may be bottoming.
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In addition, gold has traded in the opposite direction of the dollar over the past few weeks. But gold has generally gone down less than the dollar has gone up.
In fact, as the dollar bottoms, gold may be consolidating.
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The above chart looks like gold is drawing one of those wedge type chart things that gold has traced throughout its ascent over the past several years.
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