…the US Dollar index (USD) because it continues to be the whole ball game:
So, my bright and glistening gold bug friends, you should continue to look beyond the price of silver and look at what’s happening to the dollar to take your cue. Sometimes the dollar’s position to the market is merely important but in other periods, such as right now, it’s a case of ‘the rest is noise’. Today’s bounce isn’t unexpected and it’ll take a while to get down to the 74s we saw at the peak/trough of the action last cycle…all good things to those who wait.