Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.
Dollar Index Plunges, Gold Prices Remain Subdued
The elephant in the room this morning is the weakness in the US Dollar vs. Euro, Pound, and even the Yen.
Let's notice that the DXY is bearing down on its 2-1/2 year support plateau between 79.30 and 78.90.
A sustained break of the support plateau will have the potential to send the DXY towards 76.50, which should, but as of yet has not, trigger a sharp upside reaction in Spot GOLD.