While the dollar index overnight did not show a definitive downside extension, the charts and Fed news favor the bear camp in the Dollar which in turn favors the bull camps in both gold and silver.

Apparently, the meeting minutes from the September Fed meeting produced concern among Fed members with the threat against growth rising and perhaps paralleling the risk of inflation.

In fact, most Fed members viewed the economic outlook as highly uncertain resulting in a consensus of proceeding carefully before raising rates again...[MORE]

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