Gold is now expected to break above $730 quite soon, an event which will probably be triggered by the dollar breaking decisively below 80 on its index, which it has been struggling to stay above for several weeks. Some weeks ago it had looked like a bullish Falling Wedge was forming on the dollar chart, dating back to May last year, but it has since broken down from that, and now looks very weak. The PPT (Plunge Protection Team) can be assumed to be fighting tooth and nail to defend the 80 level on the index, which the dollar has already tripped past briefly on a couple of occasions, because failure of this long-term support level can be expected to trigger wholesale dumping of the dollar at which time gold and silver will go through the roof. Our long-term chart which now shows a long-term downtrend channel previously thought to be too pessimistic, borders on apocalyptic. This chart projects the dollar index down to about 60, assuming it drops down to the lower return line - which could easily happen if a lot of big dollar holders decide to bail.