The dollar just crashed through 74. It’s at 73.83 as I write this.
The US Dollar Index measures the strength of the US Dollar against a basket of foreign currencies. When the dollar was strong it reached as high as 190. The USDX is (and has been since fall) showing historic weakness.
Note: this is an important indicator that will help tell us when to sell our gold and silver.
Generally, as the US dollar tanks, gold and silver react by going up.
When the USDX drops to our target value we’ll have a very strong indication to SELL. My short-term prediction of silver (from Jan 10 when silver was at 15.62) at $21 by July is on track. My long-term predictions are these prices before the end of 2011:
◊◊◊◊ Today: Gold @ $966.70, Silver @ $19.72, USDX @ 73.83 ◊◊◊◊