The SPDR Gold Shares (NYSEARCA:GLD) and the iShares Silver Trust (NYSEARCA:SLV) are both trading slightly lower this morning. These two precious metals will usually trade inverse to the U.S. Dollar, therefore, traders should follow the dollar closely. Short term traders can watch for intra-day support on the GLD around the $167.00, and $166.00 levels.

At this time, gold and the major stock market indexes are synonymous. When gold rallies higher the major stock market indexes seem to rally higher as well. Gold is signaling to investors that inflation is being created by the central banks. As we all know by now, when there is inflation the major stock market indexes will react and trade higher.