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LOSING its Luster? Gold breaking down as USD surges

This morning's US Dollar surge was particularly bearish for the Precious metals, and we've seen both Gold and Silver breakdown to new monthly lows this morning, with both exiting a meaningful consolidation to the downside-  this is a negative for the Metals complex, and additional Dollar strength along with TY yields turning back higher in tandem are typically quite negative for the Metals

 

Gold breaking down this am under levels that have held for the last few months.  This is a negative development for Gold

Gold breaking down this am under levels that have held for the last few months.  This is a negative development for Gold

The larger trend for Gold has also broken down today, so until/unless this is regained in the near future, this is a definite negative and Gold will need to be avoided under 1300