With the dollar continuing to trade in a range without signs of clear direction and August gold finding minimal support at yesterday's low of $1955.40, the selloff has been temporarily slowed or arrested.
However, the developing pattern on the dollar charts with 4 consecutive lower highs and 3 consecutive lower lows should provide hope for gold and silver bulls ahead especially if today's US jobs-related data points to a soft economy.
Unfortunately for the bull camp investment signals for gold remain bearish with ETF holdings yesterday declining 30,840 ounces and, in the process, declining for the 7th straight session...[MORE]
Please subscribe to receive the full report via email by clicking here.
