The dollar is rolling over slowly, and prices are below the 94.65 level cited in the morning update (currently 94.63). I figured that would be enough to push gold above the $1215 level. However, prices haven’t responded as I suspected (now $1212). So either the rally in gold is delayed, or the dollar needs to slip below 94.43 (yesterday’s low) to trigger the appropriate response.
The stalemate is unlikely to be resolved before today’s close. I think we will get our answer tomorrow. Depending on the outcome, I may add or subtract from my hedge.