Gold has rebounded to $1738 from $1731.
Today’s gold chart looks an awfully lot like EUR/USD, suggesting that broad US dollar buying/selling is the driver.
The rebound cleared short-term downtrend resistance and should test somewhere in the $1743-1739 today. I may be dreaming but I have repeatedly seen the US stock market open coinciding with gold gains — likely on ETF buying — so look for that at the bottom of the hour.
