Even though June gold has managed to build consolidation low support just under $2200, the dollar charts show residual bullishness which in turn offers overhead resistance for gold and silver.

Today's US economic report slate presents minimal news from weekly mortgage applications and a seven-year note auction at midsession.

With June gold flaring sharply higher and giving up those gains quickly yesterday, the market has given off another blowoff top signal on the charts. However, the gold market also forged a blowoff top last week and at times yesterday had recovered $42 of the $66 slide...[MORE]

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