There is a long term bullish US Dollar cycle due to have a run. The short term cycles are implying that things are warming up for a US Dollar rally. This is not good for risk on trade, 60% of all SP500 company sales are helped by a low US Dollar.
If the US Dollar rally gets serious, and that means gains of 12% or more, then GOLD over $2000 will be delayed.
Shorter US Dollar Cycle
Previous Forecast posted in May 2011