Gold Doesn’t Decline Despite Dollar’s Rally – Finally a Show of Strength?

gold bars overlay59-resize-300x236Tuesday (5/13) was another day during which the precious metals sector didn’t really decline (just a little) despite a move higher in the USD Index. Starting with gold, we saw a small move lower, which might appear slightly bullish given that the move materialized on low volume.

What’s more interesting is that the first 2 days of this week are quite similar to the first 2 days of the last week. We saw a sizable decline after this 2-day action last week, so we can say that it’s a quite bearish pattern on its own.

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