Przemyslaw Radomski Says Gold May Not Be Affected All That Much By U.S. Dollar Rise

It's cold comfort today, given how gold's fared so far, but Przemyslaw Radomski has seen a bullish "cup" formation in a chart of gold versus other currencies. (More specifically, the ratio chart of gold in terms of a dollar-bear ETF.) He also notes that the main U.S. dollar ETF is "[crawling] slowly higher despite lower volume, which is a bearish sign for the U.S. Dollar, and bullish for the precious metals."

His analysis may provide reassurance, or staying power, given the pullback in gold and resurgence of the greenback today.