Favorable Environment for Gold

It's the time of truth for the current upmove in the GLD as the price structure approaches critical near-term resistance between 59.65 and 59.80, which if hurdled and sustained should trigger upside acceleration towards the 63 next target zone. Concurrent with weakness in the dollar, strength in crude oil, and renewed downside pressure on longer-term Treasury yields, the "environment" for higher gold prices would appear to be much more favorable than it has been in the past few months.