US dollar

Gold is back above $1350 and within easy striking distance of the 2014 high of $1354 (set on Monday). Gold slumped Tuesday as demand for safety from the Ukrainian crisis subsided but once again, gold proved its resilience.
I added to gold longs on Tuesday and yesterday. It’s been impressive watching gold shake off various risks and challenges while continuing to the upside. If Monday’s high can break, the next line of resistance is the October high at $1362.

The precious metals market has remained in a "sell off" mode despite the U.S government shut down and the looming debt ceiling debate. The metals have been bearish all week with the dollar index rising.

Spot gold has rallied to begin the week amid Eurozone worries. The metal is testing the $1600 level as a break above could trigger buy stops.
The yellow metal hovered near $1599 as comments from a European Central Bank member saw fresh buying enter the market. ECB council member Bundesbank President Jens Weidmann said on Tuesday that eurozone debt crisis was not over and that the central bank would continue policies that promote growth and stability in the single currency bloc "as long as necessary."