Gold sells off on strength of US Dollar!

2nd chart shows gold breaking through the 50-day MA. Will it hold, and perhaps cause a reversal in gold?


Postscript:

Gold closed at $798.10, just barely above the 50-day Moving Average of $797.31. It remains to be seen if the 50-day Moving Average will continue to support the price of gold. If it does, the price of gold should surge upward within the next few days, even if it closes below the MA temporarily. Keep watching! Perhaps the fear of further inflationary pressures will override the strength of the US Dollar and the gold bugs will step in to send the price of gold soaring again. One never knows. I expected the price of grains to fall as the USD went upward, but they didn't. They have continued into the stratosphere.