The dollar is holding below a downward sloping 10-week moving average. That's usually a sign that an intermediate decline has begun.
I know I'm the not the only analyst bullish on gold at the moment but with the dollar likely moving down into an intermediate degree decline, I think it's going to be bullish for gold—at least for a few weeks until the dollar finds a final intermediate bottom. With most of the indicators for the dollar pointing down, and most of the indicators for gold pointing up, I think there is still some upside left in the precious metals.
Silver has regained the 200 and 15 WMA.
