While gold, silver and mining shares catapulted from overnight and early attempts to manipulate them lower…(click on graphs to enlarge):
The U.S. dollar has lost the psychologically important 80-handle, it lost its 200 day moving average on Friday and its 50 dma today. All of these are important technical levels. The most interesting aspect of the graph on the bottom is the accumulation/distribution line. This shows net dollars flowing either into or out of U.S. dollar futures. As you can see, the dollar has experienced significant outflows since last July. The outflows slowed down for a bit in early May but it appears as if the selling is gathering momentum again.
Can’t say I would be an anxious holder of U.S. dollar given our Government’s incompetent handling of its imperialistic affairs, the extreme fraud and corruption that has infested every corner of DC – including the Oval Office – AND,of course, the declining wealth output as measured by the latest GDP reading.