Monthly Charts of Gold Show Bullish Turn

The spike to above $1900 doesn't appear on the monthly chart. In U.S. dollars, gold has flat-lined, the short-term indicators barely turning positive and the price chart still in a slow downtrend that started at the end of the 2013 crash. If the U.S. dollar continues to rally, the slow downtrend in gold is equivalent to a rally in foreign currencies. Gold is consolidating at a higher plateau before its next run.

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