Gold is breaking away from the dollar index. Price hit $3,288 on July 1. Dollar index down 6.4% since March. Central banks added 1,145 tons last year. Foreign treasury holdings collapsing. 2007 signs all over the board.
Gold is no longer tethered to the dollar index. It’s been moving sideways from currency markets for months. The break became visible in April when the dollar index fell 6.4% off its March high, but gold kept climbing. It hit $3,288 per ounce on July 1. That is not noise. That is decoupling. The technicals …