Sunday, 14 July 2013

Last Wednesday night + Thursday morning, gold spiked and dollar fell sharply. 2013-07-14

Gold spiked to $1300 on last Wednesday night/ Thursday morning at the same time as the US dollar dropped very charply against the US dollar index basket and against the Euro and Swiss Franc as singular currency examples.

After two sharp updays for the dollar withina rising trend on 4th and 5th July and more strong action to follow, the dollar crashed from 85 to 82.5 almost instantly and wiped out all those gains.

Gold was a benificiary of this currency action and so was silver. It is well above the blue resistance line that had dogged it for the last few weeks.

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