The dollar is retreating back to its 20 MA, and will likely find some support there. Notice the lower high made in the UUP chart.
Any weakening of the dollar will be an opportunity for gold to rally, but I am not saying that the dollar trend for going higher is over....its just taking a break.
At the moment GLD is still under pressure, note the low trading volume. I have charted a possible path for GLD if the dollar can ease up a little.
If you wish to play gold purely... go for the GLD, but you could also go for the gold miners. Of course, the risk for playing through the miners is the risk due to lowering of earning guidance.
Kindly take note that, playing gold through the miners is speculative in nature and its quite a difficult game IMO.
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