Gold rises on softer dollar, on track for fourth weekly drop - Reuters

Dollar weakness is giving gold some breathing room, but four consecutive weekly drops tell the real story. This kind of sustained selling pressure flushes out the momentum traders and tourist money that flooded in during the run to $2800. What's left are the central banks still buying and stackers like us who understand the fundamentals haven't changed. The COMEX registered inventory keeps shrinking while premiums on physical stay elevated. These weekly drops are doing the heavy lifting of resetting sentiment while the underlying demand structure stays intact. Smart money accumulates during these extended pullbacks.