US Dollar and Gold
Gold Weekly Chart
Since the greenback dropped below the 100 level on a dollar index, hedge funds will likely switch from purchasing US dollars and selling contracts on yellow metal to getting rid of dollars by adding paper contract-gold. However, that’s only for starters. The India Narendra Modi hard cash elimination project did not put the stop on Indian yellow metal imports. China, as well as Russian Federation continuously suck in vast numbers of real gold. This will help to generate “substance” into the hedge funds and drive massive paper gold-silver trading.