Returning back from a long weekend; with Friday off due to the Good Friday; extending it for today, with some markets such as the Europeans and the British, holding on the holiday to the Easter Monday; whereas trading in the markets today will be in low volume. Were the bullion resumed sliding to the down side, after recording one of the biggest weekly drops, plunging from $1032.20 the gold ingots all time high to $904.70 levels on Thursday.
The US dollar is still holding up; strengthen against majors especially the 15 nation currency, trading above the 13 year low around the 1.5387 levels; ensuring to all market participants that the actions taken by the Feds last week, by just cutting 75 basis points, though we were all surprised from the cut because we expected more, but the weird thing that markets reacted in the positive direction, with strengthen the US dollar, the logical explanation for all that movement was pure profit taking transaction by investors' before they headed into the long weekend.
As the feds currency strengthened, the appeal for the bullion dropped as it
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