Despite a dip in the U.S. dollar and bonds, we saw gold futures trend a little bit lower this morning giving us a rather sluggish start to Q3. At the time of this writing, December gold is trading down .01% after we saw a 2% rise on Thursday, so not all is lost, but it is something worth following closely as gold is trading at $1757/oz.
It is interesting that we are seeing a loss today as most investors seem to be rather bullish on gold. When you take into consideration the weakness of the U.S. dollar and the probable tapering on bond buying by the Fed, it should create some opportunities in gold. The fundamentals are all there for gold to go on a bullish run.