Just a Correction in Gold...or More?

10/27/2009 2:53 pm EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

Gold was sharply lower on Monday as the strength in the dollar was a reason for some to sell. As pointed out by veteran gold analyst Ian McAvity in this recent interview, they do not have to have an inverse relationship. Technically, it still looks good as the OBV did confirm the recent highs, so this should be a pullback in the uptrend.

Related Articles on COMMODITIES