From Rambus Wednesday Report Tonite

This next chart is a ratio chart which compares gold to the US dollar during the 2011 bear market for gold. When the ratio is falling the US dollar is outperforming gold which was the case until the 2016 low. Since that low gold has had the upper hand but nothing to write home about as the outperformance has been slow but sure. Several months ago in March gold finally began trading above the top rail of the 5 point rising wedge reversal pattern which should be a big positive for the PM complex.