Gold / Dollar Ratio Sending Bearish Message To Precious Metals – Gold Silver Reports

That move lower has been exacerbated by the recent strength in the US Dollar, and has rocked Gold bulls back on their heels.

The ratio of Gold to the U.S. Dollar (NYSEARCA: UUP) offers domestic investors a good idea of where the trend is going.

In the Gold / Dollar ratio chart below, you can see the 17 year rising trend support (line 1).

The overhead falling trend resistance (top line) has caused price to compress in a multi-year narrowing pennant. And this compression recently lead to a move lower, that broke through support.

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