Friday, December 4, 2009
I have previously predicted that the dollar would rally at some point in the short-term, and that the dollar's rise would be correlated with a correction in gold.
Today, the dollar index rose from around 74.7 to 75.934:
However, the Dow was up 23 today.
Does that mean that the inverse correlation between the dollar and Dow was broken? One day does not destroy a trend ... it is simply too early to tell.