Crucial Point: Placing the "Dollar Rally" in Context. Gold has Broken Out to New All-Time Highs Against: The Aussie Dollar, Canadian Dollar, the Euro, and the British Pound
The "rise" in the dollar has been merely a function of some of these currencies free-falling even faster for the time being. Gold has already broken beyond its March / all-time highs in each of these currencies... how long do you suppose before the USD catches up in the race towards the bottom and we break back out above the prior high of about $1,033?
You can barely make out the vertical spike at the right edge of the Aussie chart... gold is trading at AUD 1,306!