*XE, I'm about to head out, in short I'd say it's a lot of factors, from resolving a technically oversold position (much like $GOLD stocks recently did), to oil surging higher this week, to the lack of recent confidence in the Euro possibly leading to European buying of $GOLD...
If we look to $GOLD priced in Euro's, it's nearing big-time resistance at 350 here... #msg-6545310
I know the dollar is overbought and the fundamentals would say it's bankrupt at this point, but nontheless I still think the dead-cat still has some bounce in it...
Looking to $GOLD stocks today, they didn't confirm a new high in $GOLD... and they topped out early yesterday, GLD may have done the same today as it hit the RSI(14) 50 resistance...
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