Downside Pressure for USD, Tailwinds for Gold & Silver

The U.S. Dollar (DXY) is under intense downside pressure this week, primarily due to the cooler-than-expected inflation data on CPI and PPI. When the bean counters take out the lagging data from rent, the inflation numbers ahead could be much closer to or below the Fed's 2% target. The downward inflationary pressure despite the belief that there will be price increases due to tariffs overlaid on a deteriorating geopolitical landscape, makes Dollar weakness all the more eyebrow-raising, no?

My attached WEEKLY chart of DXY shows this morning's decline to a new three-year low at 97.60 en route to a full-fledged test of the 2011-present up trendline that cuts across the price axis in the vicinity of 96.30... 

Meanwhile, GLD and SLV are deriving tailwinds from DXY weakness (see my attached 4-hour charts). In particular, let's watch GLD to see if it can hurdle and sustain above resistance at 313.50, which my pattern work argues will trigger upside continuation to challenge the ATH at 322.42 (4/22/25), and will open a higher pathway for SLV to new multi-year highs at 34.60/90 next... Last in GLD is 311.55... SLV 32.87...