Gold is near all-time highs, currently around $2,556/oz. We set a technical target of $2,400 to $2,500 earlier this year. Longer-term, gold could well go to $3,000 or higher. However, the U.S. Dollar Index (USD) is very oversold and is bouncing off its prior low from late 2023. The COT data remains bearish for the USD and has been pretty accurate in forecasting the intermediate-term direction of the greenback. Gold stocks are short-term overbought with some bearish divergences and may take a breather soon. But price is the final arbiter and there is certainly little concern about the current uptrend. We do see some nagging technical issues, but at this point they are just warnings. On the weekly chart, momentum has traced out a lower peak at its most-recent closing high versus the past high in mid-April. In addition, the uptrend in the 14-week relative strength index (RSI) is in question as its primary trendline has been busted. We also have a five-wave uptrend of lesser degree off the late-2022 lows. We do have room on the weekly as far as the current bullish channel is concerned. The distance from its 200-week exponential moving average is 31%, and wide historically