gold - usd up gold up????

  1. 473 Posts.
    Hi Guys,

    Woke up this morning, flicked on to Mike Pascoe to get the latest movements and as a holder of gold stocks was little bit depressed as he opened his mouth with comments that USD had strengthened overnight.
    Oh well I thought gold will be down but lo and behold up and held the 370 level.
    Have noticed gold is holding around this level over the last 3 or 4 days coinciding with a local rally in the USD.
    I for one believe the primary driver for the appreciation of the gold price is the weakness in the USD but maybe 1st signs that much touted secondary drivers (global short position , supply / demand ) maybe are based in fact not fantasy??????

    Hard to draw any conclusions from daily movements but definitely had a smile on my dial as brewed 1st coffee of the trading day.

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