Not so fast Greenback haters!

As traders we are taught to be pliable and quick on our feet. I went in to the end of the week thinking that Gold would still move higher (after a minor correction...)

BUT...judging by what I am seeing and reading this weekend with regards to the Greenback, and some of the charts of some of the other US pairs, we could be in for a little more then just a correction in Gold, unless Gold and the Dollar rise at the same time, which doesn't happen all that much.

So, in order to keep this readable and organized, I'm going to break this up into a few entries and give pros and cons to the argument.

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First Argument FOR:

I think it was Matt Nesto on CNBC the other day...(I looked at the chart, he was right..)

Basically, he pointed out that that the Sterling/Greenback is trading higher now then it was when the UK gov announced that they were going to buy their own paper. If we remember, the Sterling had a precipitous drop around the 7th or 8th. Now, we all know that past performance does not indicate future results (so please research your broker carefully!) but the Greenback made a similar move down when we announced the same.